HomeNewsCoinbase vs. SEC: Mark Your Calendars for July 13 as Response Deadline...

Coinbase vs. SEC: Mark Your Calendars for July 13 as Response Deadline Approaches – Time to Fill Bags with Coinbase Shares? Report

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  • The SEC has obtained a court-approved extension to respond to Coinbase’s legal defense, with a new deadline set for July 13, 2023.
  • The court also moved the pre-trial conference date up to July 13 from its initial date of August 24, transitioning it to a pre-motion conference.

A new date, July 13, 2023, has been set for the United States Securities and Exchange Commission (SEC) to present its response to Coinbase’s legal defense. The adjustment in schedule follows a court order issued on Thursday, June 29, 2023.

The SEC, in a recent legal document filing, requested a three-business-day extension from the court. The motivation behind this request lies in the agency’s desire for additional time to prepare a fitting response to the defendant’s letter. Coinbase, in a demonstration of compliance, has agreed to this extension request.

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Originally, under Rule 4(A) of the court’s individual rules, the SEC was to present its response to Coinbase’s letter by July 3, 2023. However, Judge Katherine Polk Failla, endorsing the SEC’s request, has moved the response deadline to July 13.

Moreover, the court has transitioned the pre-trial conference into a pre-motion conference, and shifted its date from August 24 to July 13, 2023, slated for 2:00 pm UTC. A pre-motion conference, for context, involves the court receiving a request from either the prosecution or the defense seeking a ruling on a specific matter prior to the trial.

In the interim, Coinbase submitted a letter to the court on June 28, 2023, seeking permission to present a motion for judgment on the pleadings, in line with the Federal Rule of Civil Procedure 12(c). This move was in response to the SEC’s complaint. In addition, Coinbase proactively submitted a comprehensive 177-page answer to the complaint well ahead of the August 7 deadline.

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With regard to a motion for judgment on the pleadings, the presiding judge can scrutinize additional pleadings in the case, including the defendant’s response to the complaint. Coinbase’s response contained a detailed “Preliminary Statement” offering a blueprint of its legal arguments for the dismissal of the case, thereby providing the judge with ample material for consideration.

In a rebuttal to the SEC’s complaint, Coinbase contends that a considerable number of the tokens indicated in the SEC’s case fall outside of the commission’s jurisdiction.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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