• Coinbase is seeking a dismissal in the SEC case, taking an unconventional approach to do so.
• Legal expert James “MetaLawMan” Murphy has shed light on the crypto exchange’s tactics.
• A pre-motion conference will be held on July 13 to determine the fate of Coinbase’s motion.
Coinbase and The SEC Case
Coinbase recently responded to the United States Securities and Exchange Commission (SEC) complaint by filing for a dismissal of the case. The crypto exchange is taking an unconventional approach to the situation, which has earned praise from legal expert James “MetaLawMan” Murphy. On July 13, there will be a pre-motion conference in order to decide what will happen with Coinbase’s motion.
The Unconventional Approach
Rather than filing a typical motion to dismiss under Rule 12b, Coinbase intends to file a “’motion for judgment on the pleadings“ under Rule 12c. This would allow Judge Failla to consider other pleadings in the case, such as Coinbase’s response to SEC’s complaint as well as other documents including S-1 registration statement, congressional testimony from SEC Chair Gary Gensler , transcripts from Binance’s temporary restraining order hearing , and Hinman emails . According to Murphy, permission will likely be granted unless there is some very good reason offered by the other side.
Praise From An Expert
Murphy praised Coinbase’s strategy for getting helpful documents before Judge Failla that wouldn’t have been considered if they had filed under Rule 12b instead. He also noted that their response was loaded with more material than one would typically find in reply to a complaint.
Speed Up Of Timeline
Coinbase’s actions have notably sped up the timeline of this case significantly compared with other cases like it in the past. This could potentially mean an expedited resolution if everything progresses smoothly leading up until July 13 and beyond.
Conclusion
Coinbase has taken an unusual approach when responding to SEC’s complaint against them–one which appears effective so far given its early success thus far and positive feedback from legal experts like Murphy who are knowledgeable about securities law matters such as this one. It remains unclear at this time how things will play out over time but hopefully we can look forward towards an expedited resolution in this case soon enough if all goes according plan leading up until July 13 and beyond
