The cryptocurrency exchange Coinbase has argued that the Securities and Exchange Commission (SEC) exceeded its authority by classifying the cryptocurrencies listed on its platform as securities. In a recent court filing, Coinbase criticized the SEC’s definition of securities, stating that it was too broad and that the cryptocurrencies listed on the exchange should not fall under the regulator’s jurisdiction. Coinbase claimed that the SEC was attempting a “radical expansion” of its authority and argued that only Congress has the power to do so. The SEC had previously sued Coinbase for violating securities laws by listing tokens without registering with the regulator. Coinbase filed a motion for judgment, accusing the SEC of abusing its power and violating its due process rights. The case is currently being overseen by Judge Katherine Polk Failla, who may call for oral arguments before issuing a judgment or deciding to dismiss the case or have it heard by a jury.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	Paul Grewal
Companies	Coinbase, Securities and Exchange Commission (SEC)
Currencies	None
Securities	None