(Bloomberg) — The Securities and Exchange Commission is pushing ahead with its litigation against Coinbase Global Inc., raising the stakes further in the case against the biggest US crypto exchange.
The SEC on Tuesday asked a federal judge to reject Coinbase’s attempts to have the agency’s lawsuit tossed. The company had argued that the watchdog “abused its discretion” in claiming that the firm was offering crypto products that were unregistered securities.
Industry advocates and critics alike are looking at the Coinbase case for answers to longstanding questions about the SEC’s jurisdiction over digital assets. The agency under Chair Gary Gensler has argued that most tokens are subject to SEC rules and that platforms where they trade should be registered with the agency.
In June, the SEC alleged that Coinbase for years evaded its rules by illegally operating an unregistered exchange, brokerage and clearing agency. The…
