TechFlow news, according to Cointelegraph, cryptocurrency exchange Bittrex has filed a motion seeking dismissal of the lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC).
In its recent court filing, Bittrex argued that unless explicitly granted by Congress, the SEC lacks the necessary authority to regulate cryptocurrencies as securities. This position challenges the SEC’s interpretation of existing securities laws and calls for establishing a clearer regulatory framework suited to the unique characteristics of digital assets.
In its motion to dismiss, Bittrex adopted an approach similar to Coinbase, closely aligning its arguments with those made by major cryptocurrency exchanges. This shift indicates a strategic move by Bittrex to leverage the robust legal framework established by Coinbase in building a unified defense against the SEC's litigation.
