The United States Securities and Exchange Commission (SEC) has sued many cryptocurrency exchanges and companies in the past period. In his case with the US-based Coinbase, the first hearing date has been announced. The trial judge approved the request for the opening session and the date of all subsequent responses. The first notes and documents will be delivered on August 4, 2023.
Paul Grewal, Coinbase Chief Legal Officer, in his social media postannounced that their request for trial dates was approved. Accordingly, no decision has yet been taken regarding the 2nd Response sessions for the litigation process that will begin on August 4, 2023. The case is expected to gain momentum with future defense briefings and responses in October-November 2023.
After the SEC sued the cryptocurrency exchanges, Coinbase also filed a lawsuit against the SEC. Accused of providing unauthorized securities sales services, Coinbase was relieved after Ripple’s decision not to be considered a security. Many experts security (securities) thinks that lawsuits filed under its definition will go against the SEC.
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