{"id":323873,"date":"2023-06-29T17:00:22","date_gmt":"2023-06-29T11:30:22","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=323873"},"modified":"2023-06-29T16:45:34","modified_gmt":"2023-06-29T11:15:34","slug":"coinbase-slams-secs-overreach-in-latest-filing","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/","title":{"rendered":"Coinbase slams SEC\u2019s overreach in latest filing"},"content":{"rendered":"<ul>\n<li><em>Crypto assets listed on Coinbase are not securities, the exchange claimed.<\/em><\/li>\n<li><em>Coinbase responded to the SEC\u2019s lawsuit which the regulator filed against it earlier this month.<\/em><\/li>\n<\/ul>\n<p>U.S. crypto exchange Coinbase has slammed the U.S. Securities and Exchange Commission&#8217;s (SEC) overreach. Coinbase has claimed that the crypto assets listed on its platform lie outside the jurisdiction of the regulator. Besides, all these assets listed on Coinbase are not investment contracts and therefore, not securities.<\/p>\n<p>Coinbase made these claims in its <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.599908\/gov.uscourts.nysd.599908.22.0.pdf\" target=\"_blank\" rel=\"noopener\">answer<\/a> filed in the U.S. District Court of Southern District of New York on 28 June. It was Coinbase\u2019s response to the SEC\u2019s <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-102\" target=\"_blank\" rel=\"noopener\">lawsuit<\/a> which the regulator filed against it earlier this month.<\/p>\n<p>SEC previously alleged that a dozen of the cryptocurrencies sold through Coinbase\u2019s wallet or trading platforms were unregistered securities. The regulating body made similar accusations when it <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-101\" target=\"_blank\" rel=\"noopener\">sued<\/a> Binance prior to Coinbase.<\/p>\n<p>The latest response from Coinbase cements its previous arguments with additional details. Coinbase has claimed that crypto assets on the exchange&#8217;s secondary market platform are not part of any arrangements in which a promoter sells a contract-linked asset. Token issuers do not owe any obligations to investors. In short, Coinbase slammed the SEC, citing the Supreme Court&#8217;s Howey case as an example to support its claims.<\/p>\n<p>Coinbase claimed that only the assets that the traders have bought and traded have value, not the businesses behind those assets. Thus, the transactions are not securities transactions.<\/p>\n<h4>Coinbase says SEC&#8217;s stance is inconsistent<\/h4>\n<p>According to the exchange&#8217;s filing, the current SEC Chair Gary Gensler changed his stance on the regulator&#8217;s authority over crypto assets between entering office in April 2021 and mid-2022. Besides, the company has also petitioned for crypto rulemaking. It also underlined that the Congress has started looking at the issue of crypto regulation.<\/p>\n<p>The exchange\u2019s filing argues that the regulator is pursuing enforcement by regulation rather than rulemaking.<\/p>\n<p>Coinbase also <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.599908\/gov.uscourts.nysd.599908.23.0.pdf\" target=\"_blank\" rel=\"noopener\">wrote<\/a> a letter to the judge overseeing the case, District Judge Katherine Polk Failla, on 28 June. It asked Judge Polk Failla to dismiss the SEC\u2019s lawsuit. It alleged that when the SEC filed the lawsuit, it violated the exchange\u2019s due process rights. Coinbase asked the judge to allow it to file for judgement and set a seven-week schedule for its motion, the SEC&#8217;s opposition, and its own response to the opposition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase has slammed the SEC&#8217;s overreach, claiming that crypto assets listed on its platform lie outside the regulator&#8217;s jurisdiction.<\/p>\n","protected":false},"author":70,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4,20],"tags":[],"class_list":["post-323873","post","type-post","status-publish","format-standard","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>coinbase-slams-secs-overreach-says-crypto-assets-listed-on-platform-not-securities<\/title>\n<meta name=\"description\" content=\"Coinbase has slammed the SEC&#039;s overreach, claiming that crypto assets listed on its platform lie outside the regulator&#039;s jurisdiction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase slams SEC\u2019s overreach in latest filing - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Coinbase has slammed the SEC&#039;s overreach, claiming that crypto assets listed on its platform lie outside the regulator&#039;s jurisdiction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-29T11:30:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/04\/amb-banner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Coinbase slams SEC\u2019s overreach in latest filing\",\"datePublished\":\"2023-06-29T11:30:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/\"},\"wordCount\":408,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"articleSection\":[\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/\",\"name\":\"coinbase-slams-secs-overreach-says-crypto-assets-listed-on-platform-not-securities\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\"},\"datePublished\":\"2023-06-29T11:30:22+00:00\",\"description\":\"Coinbase has slammed the SEC's overreach, claiming that crypto assets listed on its platform lie outside the regulator's jurisdiction.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/coinbase-slams-secs-overreach-in-latest-filing\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/\",\"name\":\"AMBCrypto\",\"description\":\"Stay Ahead!\",\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"alternateName\":\"AMBCrypto News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/ambcrypto.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\",\"name\":\"AMBCrypto\",\"alternateName\":\"AMBCrypto News\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2026\\\/04\\\/amb-wide.jpg\",\"width\":600,\"height\":60,\"caption\":\"AMBCrypto\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/cryptoamb\",\"https:\\\/\\\/x.com\\\/CryptoAmb\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/13629485\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\",\"name\":\"Saman Waris\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"contentUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"caption\":\"Saman Waris\"},\"description\":\"Saman Waris works as a Senior News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/saman-waris-a7116b199\\\/\",\"https:\\\/\\\/x.com\\\/https:\\\/\\\/twitter.com\\\/SamanWaris11\"],\"knowsAbout\":[\"Technical Analysis\",\"Crypto Market Trends\",\"Crypto Market Analysis\"],\"jobTitle\":\"Senior News Editor\",\"worksFor\":\"AMBCrypto\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/author\\\/saman-waris\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"coinbase-slams-secs-overreach-says-crypto-assets-listed-on-platform-not-securities","description":"Coinbase has slammed the SEC's overreach, claiming that crypto assets listed on its platform lie outside the regulator's jurisdiction.","robots":{"index":"index","follow":"follow","max-image-preview":"max-image-preview:large"},"canonical":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/","og_locale":"en_US","og_type":"article","og_title":"Coinbase slams SEC\u2019s overreach in latest filing - AMBCrypto","og_description":"Coinbase has slammed the SEC's overreach, claiming that crypto assets listed on its platform lie outside the regulator's jurisdiction.","og_url":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/","og_site_name":"AMBCrypto","article_publisher":"https:\/\/www.facebook.com\/cryptoamb","article_published_time":"2023-06-29T11:30:22+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/04\/amb-banner.jpg","type":"image\/jpeg"}],"author":"Saman Waris","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/SamanWaris11","twitter_site":"@CryptoAmb","twitter_misc":{"Written by":"Saman Waris","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/#article","isPartOf":{"@id":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/"},"author":{"name":"Saman Waris","@id":"https:\/\/ambcrypto.com\/#\/schema\/person\/ad73a5a061fcfc27548aa27112d8b9d8"},"headline":"Coinbase slams SEC\u2019s overreach in latest filing","datePublished":"2023-06-29T11:30:22+00:00","mainEntityOfPage":{"@id":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/"},"wordCount":408,"commentCount":0,"publisher":{"@id":"https:\/\/ambcrypto.com\/#organization"},"articleSection":["News","News 1","Social","Trading View"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/ambcrypto.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/","url":"https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/","name":"coinbase-slams-secs-overreach-says-crypto-assets-listed-on-platform-not-securities","isPartOf":{"@id":"https:\/\/ambcrypto.com\/#website"},"datePublished":"2023-06-29T11:30:22+00:00","description":"Coinbase has slammed the SEC's overreach, claiming that crypto assets listed on its platform lie outside the regulator's jurisdiction.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ambcrypto.com\/coinbase-slams-secs-overreach-in-latest-filing\/"]}]},{"@type":"WebSite","@id":"https:\/\/ambcrypto.com\/#website","url":"https:\/\/ambcrypto.com\/","name":"AMBCrypto","description":"Stay Ahead!","publisher":{"@id":"https:\/\/ambcrypto.com\/#organization"},"alternateName":"AMBCrypto News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ambcrypto.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ambcrypto.com\/#organization","name":"AMBCrypto","alternateName":"AMBCrypto News","url":"https:\/\/ambcrypto.com\/","logo":{"@type":"ImageObject","@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/04\/amb-wide.jpg","width":600,"height":60,"caption":"AMBCrypto"},"image":{"@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cryptoamb","https:\/\/x.com\/CryptoAmb","https:\/\/www.linkedin.com\/company\/13629485\/"]},{"@type":"Person","@id":"https:\/\/ambcrypto.com\/#\/schema\/person\/ad73a5a061fcfc27548aa27112d8b9d8","name":"Saman Waris","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","contentUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","caption":"Saman Waris"},"description":"Saman Waris works as a Senior News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins.","sameAs":["https:\/\/www.linkedin.com\/in\/saman-waris-a7116b199\/","https:\/\/x.com\/https:\/\/twitter.com\/SamanWaris11"],"knowsAbout":["Technical Analysis","Crypto Market Trends","Crypto Market Analysis"],"jobTitle":"Senior News Editor","worksFor":"AMBCrypto","url":"https:\/\/ambcrypto.com\/author\/saman-waris\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts\/323873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/comments?post=323873"}],"version-history":[{"count":0,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts\/323873\/revisions"}],"wp:attachment":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/media?parent=323873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/categories?post=323873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/tags?post=323873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}