America Securities and Change Fee (SEC) will current its response to Coinbase’s first authorized protection on July 13, in keeping with a court docket order issued on Thursday, June 29.
In a authorized doc submitting, the SEC submitted a request to the court docket for a three-business-day extension. This extension was sought to supply the SEC sufficient time to arrange a response to the letter submitted by Coinbase, the defendant. The defendants have agreed to the request.
The earlier deadline for the SEC to file its response to Coinbase’s letter was July 3, 2023, in keeping with Rule 4(A) of the court docket’s particular person guidelines. Nonetheless, Decide Katherine Polk Failla accepted the SEC’s request for extra time and set the brand new date of July 13.
As well as, the court docket rescheduled the pre-trial convention to a pre-motion convention, bringing it ahead to July 13 at 2:00 pm UTC as a substitute of its unique date of Aug 24. A pre-motion convention is a request introduced by the prosecutor or protection lawyer to the court docket in search of a ruling on a selected matter previous to the trial.
Within the meantime, Coinbase just lately filed a letter to the court docket dated June 28, 2023, requesting depart to file a movement for judgment on the pleadings beneath Federal Rule of Civil Process 12(c). This movement was filed in response to the SEC’s criticism. Earlier, Coinbase had additionally filed a 177-page reply to the criticism 40 days earlier than the deadline of Aug. 7.
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Within the context of a movement for judgment on the pleadings, it is very important word {that a} choose has the authority to evaluate further pleadings submitted within the case, together with the defendant’s reply to the criticism. In Coinbase’s reply, it included a complete “Preliminary Assertion” outlining its authorized arguments for the dismissal of the case, thereby offering the choose with substantial materials to contemplate.
Coinbase has countered the SEC’s criticism by asserting {that a} vital variety of the tokens talked about within the SEC’s case are past the scope of the fee’s jurisdiction.
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