The US Securities and Trade 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. Nevertheless, Choose Katherine Polk Failla authorised 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 an alternative of its unique date of Aug 24. A pre-motion convention is a request introduced by the prosecutor or protection legal professional to the court docket in search of a ruling on a selected matter previous to the trial.
Within the meantime, Coinbase not too long ago filed a letter to the court docket dated June 28, 2023, requesting go away to file a movement for judgment on the pleadings below 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, you will need to notice {that a} decide 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 decide with substantial materials to contemplate.
Coinbase has countered the SEC’s criticism by asserting {that a} important variety of the tokens talked about within the SEC’s case are past the scope of the fee’s jurisdiction.
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