Cryptocurrency exchange Coinbase is challenging the U.S. Securities and Exchange Commission (SEC) by seeking the dismissal of the lawsuit filed against it. Coinbase argues that the SEC has exceeded its authority and jurisdiction, citing the recent Ripple case verdict as precedent. The company’s legal team asserts that the assets and services provided by Coinbase should not be classified as securities and argues that the SEC’s claims lack legal foundation. Coinbase aims to leverage the Ripple case ruling to influence the classification of cryptocurrency assets. The outcome of this legal battle could have far-reaching implications for the entire cryptocurrency industry.
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