A US court rejected the appeal of the crypto exchange Coinbase against the regulator – Kommersant

New York District Court last night rejected a petition from the crypto exchange Coinbase, in which it demanded that the Securities and Exchange Commission (SEC) lawsuit filed against it be dismissed. Thus, the SEC’s lawsuit against Coinbase will continue to be heard in court, which American media consider as the first partial victory for the regulator. Now, as experts note, this will become a precedent for other American courts where regulatory claims against Coinbase may be filed.

The SEC’s lawsuit against Coinbase was filed last June. The regulator accused the crypto exchange of violating exchange trading rules. According to the SEC, trading of 13 tokens on Coinbase is subject to securities trading regulations. Therefore, Coinbase and trading participants must be properly licensed. In addition, Coinbase must provide trading participants with appropriate warnings regarding the potential risks associated with trading these assets. SEC lawsuit against Coinbase is being considered experts as one of the stages of bringing trading in crypto assets in the United States into a more streamlined form, closer to trading in more traditional exchange-traded assets. Currently, there is a lively discussion in the United States about how large-scale reform of the regulation of the cryptocurrency market can be caused by the claims of the US authorities against leading crypto exchanges.

Read about the work of the Central Bank of the Russian Federation with cryptocurrencies in the material “Crypto was set in motion”.

Evgeny Khvostik