US Federal Court Rejects Coinbase's Motion to Dismiss SEC Lawsuit

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The story " US Federal Court Rejects Coinbase&#039;s Motion to Dismiss SEC Lawsuit" was covered 1 months ago by CoinGape, a news publisher based in India.

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US Federal Court Rejects Coinbase's Motion to Dismiss SEC Lawsuit - CoinGape

Quick Summary:

A United States Court has set aside Coinbase motion to dismiss the Securities and Exchange Commission’s lawsuit against the platform. In a March 27 ruling, a Federal court in Manhattan gave a go-ahead to the case and struck out claims against Coinbase Wallet sparking debates along crypto community lines.

The regulation-by-court approach by the financial regulator has led industry executives and the digital asset community to lambast the Commission driving web3 investment out of the country.

Coinbase stressed the argument vowing to defend itself and seek regulatory clarity for the market.