Coinbase Gets Much-Needed Reinforcements In Ongoing Legal Battle• October 28, 2023 11:42 am • Comments
Coinbase has been locked in a legal battle with the Securities and Exchange Commission for months.
Many legal experts believe that Coinbase will eventually come out on top in the ongoing litigation and trounce the SEC the same way Ripple did.
Of course, this likelihood isn’t a certainty and Coinbase is likely going to need all the help it can get.
Attorney John Deaton, who filed an amicus brief on behalf of XRP holders during the Ripple V SEC lawsuit, has once again done the same for Coinbase.
Deaton says that 5,000 Coinbase users have already signed on to be a part of the brief if the motion succeeds in court.
Here is the official filing for the amicus brief in the SEC vs Coinbase case:
Crypto Slate explained:
An amicus curiae, which translates from Latin to “friend of the court,” is a legal term referring to someone who is not a party to a case but who offers information, expertise, or insight that bears on the case.
They provide this assistance to the court through a brief to help the court make an informed judgment.
Pro-XRP attorney John Deaton announced on Friday:
“I have about 5K Coinbase customers who’ve joined to participate as potential amici curiae – if the case were to continue, either in District Court or on appeal.
We made a difference in the Ripple-XRP case and we can do the same here. Although not involved in the case at this point, I plan to attend the oral argument on behalf of individual customers. Consider joining, if you haven’t.”
I have about 5K Coinbase customers who’ve joined to participate as potential amici curiae – if the case were to continue, either in District Court or on appeal. We made a difference in the @Ripple XRP case and we can do the same here. Although not involved in the case at this… https://t.co/Udv2swSdjz
— John E Deaton (@JohnEDeaton1) October 27, 2023
Paul Grewal, the Chief Legal Officer at Coinbase, welcomed the upcoming court session. He confirmed the company’s preparedness to address the court’s concerns comprehensively.
The legal team remains firm, seeking a case dismissal and arguing against the SEC’s approach to crypto regulation.
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