{"id":83057,"date":"2023-08-15T12:14:27","date_gmt":"2023-08-15T09:14:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83057"},"modified":"2025-09-12T08:43:41","modified_gmt":"2025-09-12T05:43:41","slug":"senator-lummis-urges-ny-court-to-dismiss-sec-case-against-coinbase","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/senator-lummis-urges-ny-court-to-dismiss-sec-case-against-coinbase\/","title":{"rendered":"Senator Lummis urges NY court to dismiss SEC case against Coinbase"},"content":{"rendered":"<p>Wyoming Republican Senator Cynthia Lummis urged the U.S. District Court for the Southern District of New York to dismiss the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>&#8216;s case against the bitcoin exchange Coinbase, arguing that, in her view, the regulator&#8217;s stance toward cryptocurrency runs counter to current legislative efforts.<\/p>\n<p>In the filing, she argued that the Commission is overstepping its regulatory remit, since any decision on a matter affecting the national economy or society should be backed by congressional authorization.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cRegulation of crypto assets has significant economic and political significance. It is the subject of dozens of recent hearings in Congress and legislative proposals,\u201d Lummis said.<\/p>\n<\/blockquote>\n<p>In late July she, together with other senators, introduced <a href=\"https:\/\/u1f987.com\/en\/news\/us-treasury-to-develop-aml-standards-for-the-crypto-industry\">bill<\/a> on regulating digital assets.<\/p>\n<p>Also, a number of public-interest groups, including Blockchain Association, Crypto Council for Innovation, Consumer Technology Association and the Chamber of Progress, joined in appealing to dismiss the SEC&#8217;s case against Coinbase. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBy seeking to regulate the sale of almost all digital assets on secondary markets, the SEC aims to extend its oversight not only to the trillion-dollar crypto industry but potentially to countless other assets,\u201d they said.<\/p>\n<\/blockquote>\n<p>In March 2023, Coinbase <a href=\"https:\/\/www.coinbase.com\/blog\/we asked the sec for reasonable crypto rules for americans we got legal\">received a notice<\/a> from the SEC regarding an investigation into listing procedures on the platform and its products \u2014 Coinbase Prime, Coinbase Wallet and Coinbase Earn.<\/p>\n<p>In June the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-coinbase-exchange\">accused<\/a> the exchange of allegedly operating as an unregistered exchange, broker and clearing agency.<\/p>\n<p>Earlier the U.S. Chamber of Commerce <a href=\"https:\/\/u1f987.com\/en\/news\/sec-criticised-for-a-disjointed-approach-to-crypto-regulation\">endorsed<\/a> Coinbase, noting that the Commission is \u201cdeliberately creating a dangerous and uncertain environment\u201d for crypto firms in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wyoming Republican Senator Cynthia Lummis urged the U.S. District Court for the Southern District of New York to dismiss the SEC&#8217;s case against Coinbase.<\/p>\n","protected":false},"author":1,"featured_media":83058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1162,128,26],"class_list":["post-83057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-court-cases","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83057"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83057\/revisions"}],"predecessor-version":[{"id":83059,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83057\/revisions\/83059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83058"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}