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Crypto Lobbying Organizations and Senator Lummis Call for Dismissal of SEC Lawsuit Against Coinbase

Several crypto lobbying organizations, a group of professors, and US Senator Cynthia Lummis have filed amicus briefs urging a federal court to dismiss the Securities and Exchange Commission's (SEC) lawsuit against Coinbase. The SEC had brought lawsuits against Coinbase and Binance in June, alleging that they were unregistered securities exchanges, brokers, and clearinghouses trading unregistered securities in the form of crypto assets.

The amicus briefs echo Coinbase's arguments in its motion for judgment dismissing the case, and argue that the SEC is trying to exceed its authority. The briefs also highlight the need for a holistic approach to crypto regulation beyond the scope of a single agency.

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