JUST IN: The SECgov is exceeding its authority in suing Coinbase, but fails to argue that crypto tokens are 'investment contracts,' the exchange said in a filing Friday. nikhileshde reports
, saying the SEC is not claiming there are investment contracts involved in any of these examples.
The filing pointed to the recent ruling in the SEC's case against Ripple, saying the underlying facts were"substantially identical to those alleged here." Coinbase also pointed again to the Major Questions Doctrine, which it raised in a previous filing, saying the suit would vastly expand the regulator's jurisdiction to include the cryptocurrency industry.
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