Coinbase Fights Back Against SEC Lawsuit, Argues Tokens Aren't Securities

Coinbase argues in legal brief that tokens it lists aren't securities, pushing back against SEC lawsuit allegations.

Coinbase says SEC is overstepping authority under Major Questions Doctrine, which limits regulators on major economic issues.

SEC must establish tokens are securities to claim Coinbase failed to register; Coinbase says no contractual commitment between buyers and sellers.

Judge Failla has issued crypto rulings this year, familiar with issues, but granted motion would dismiss case before trial stage.

Coinbase would prefer quick trial if motion denied; case could otherwise last years in discovery and push trial to 2025.