The Chamber of Digital Commerce, a non-profit trade association that engages government officials on the use of crypto and blockchain, has urged a federal court to dismiss a case brought by the U.S. Securities and Exchange Commission (SEC) against former Coinbase employees accused of insider trading.
In an amicus brief filed Wednesday, the Chamber of Digital Commerce argued that “the SEC currently lacks the authority to seek the adjudication of digital assets as securities, particularly in the context of an insider trading case like this one.”
Amicus briefs are legal documents supplied to a court of law containing advice or information relating to a case from an organization or an individual who isn't a party to a case and acts as “a friend” of the court.
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