New Development in SEC and Coinbase Case: Creative Opening Response Leads to Trial Rescheduled for July 13

According to a court order issued on Thursday, SEC will give its answer to Coinbase’s initial legal defense on July 13.

New Development in SEC and Coinbase Case: Creative Opening Response Leads to Trial Rescheduled for July 13

The creative defensive strategy chosen by Coinbase, whereby the exchange filed its initial answer 40 days before the deadline of August 7, has resulted in a hearing date that is now much sooner than anticipated.

On the other hand, the SEC has until July 3 to provide a response to Coinbase’s defense by the regulations. However, due to the long holiday weekend surrounding July 4, the SEC has requested a three-day extension, which the court approved.

Pre-Motion will Take Place on July 13 Instead of August 24

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. Many of the tokens included in the SEC’s complaint, according to Coinbase’s response to the SEC’s complaint, are not covered by the Commission’s jurisdiction.

Coinbase has answered the SEC’s complaint with numerous defenses, including that this action violates due process and constitutes an abuse of discretion. But there is a more fundamental problem with the SEC’s case— one that the Chair recognized two years ago and that entitles Coinbase to judgment on the pleadings now: The subject matter falls outside the SEC’s authority,

From The Last Letter From Coinbase’s Lawyer To The Court

Lawyer MetaLawman’s Statements

Although not rare in situations like this, one legal expert referred to the exchange’s move to file its answer 40 days early in order to advance the case via a petition for judgment on the pleadings as a creative strategy. The goal of the exchange’s move, according to a lawyer and Twitter legal commentator named MetaLawman, is to “get documents helpful to its cause in front of the judge through the answer.”

On a motion to dismiss, a judge may only consider the factual allegations in the Complaint and any documents attached to, or referenced in, the Complaint–nothing else. On a motion for judgment on the pleadings, by contrast, a judge may consider other pleadings filed in the case, which would include the defendant’s Answer to the Complaint.

MetaLawMan