The U.S. Securities and Exchange Commission (SEC) will respond to Coinbase's first legal defense on July 13, according to a court order on Thursday.
SEC vs Coinbase Case Has Been Moved
The U.S. Securities and Exchange Commission (SEC) will respond to Coinbase's first legal defense on July 13, according to a court order on Thursday.
This earlier-than-expected hearing is a result of a “creative” defense strategy by Coinbase, who filed its first response 40 days before the deadline of August 7, prompting the SEC to file a response by July 3.
Due to the July 4th holiday weekend, the court granted the SEC an extension of three business days. The pre-trial meeting was also changed by the court into a pre-motion conference, and it was moved up from August 24 to July 13 at 14:00 UTC.
Coinbase has argued that many of the tokens highlighted in the SEC’s case fall outside the Commission’s jurisdiction, in response to the SEC’s complaint.
It is not unusual in cases like this for the exchange to file its answer 40 days early in order to advance the matter via a petition for judgment on the pleadings, although this is considered a "creative strategy." Judge Katherine Polk Failla will decide if Coinbase can move forward with this motion during the court appearance on July 13.
