June 21 (Cointime) - Coinbase, which is currently being sued by the SEC over the classification of XRP as a security, had already launched a legal offensive by filing amicus briefs in two other crypto-related lawsuits brought by the regulator.

The exchange aimed to shape court rulings on open legal questions that are now central to its own case. Although a ruling in favour of another crypto defendant would not be binding on Coinbase's own case, the company could potentially use it in its defence.

Coinbase argued that the SEC lacks authority to police the space because many digital assets are not securities and that the regulator has not set clear guidelines that would give cryptocurrency industry participants "fair notice" that a particular digital asset is a security before suing. A ruling on the case is expected later this year.