Best Crypto to Buy Now 4 August – GMX, XDC Network, Injective
One of the largest pieces of news impacting crypto markets today is that Coinbase has requested the dismissal of a lawsuit filed against them by the United States Securities and Exchange Commission (SEC), according to an announcement made today by Paul Grewal, the company's Chief Legal Officer.
Grewal disseminated the news on X, stating, "Coinbase filed our brief asking the Court to dismiss the SEC's case against us."
With this latest development in mind, what are the best cryptos to buy now?
Coinbase has emphasized in its main argument that it does not sell investment contracts.
These are a particular type of securities, as outlined by multiple Supreme Court cases and legal precedents over the years.
Grewal sharply criticized the SEC for allegedly overstepping its bounds, bypassing due process, and neglecting its own interpretations of securities laws.
He also argued that the SEC has gone beyond its authority, as granted by Congress, by overlooking other binding legal precedents.
This is a significant update in a series of legal back-and-forths that began with the SEC's lawsuit against Coinbase in June.
The SEC's initial lawsuit accuses Coinbase of trading unregistered securities, including ADA, and operating an unregistered securities exchange.
This legal action followed a Well Notice that the SEC had sent to the company earlier in the year.
Despite facing accusations, Coinbase has reiterated that it has never listed securities on its platform.
The company has consistently argued that the SEC lacks the regulatory authority to oversee cryptocurrencies.
Looking ahead, Grewal has expressed confidence in Coinbase's ability to successfully counter the SEC's lawsuit. He anticipates that the court will consider the case by the end of
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