TechFlow reports, according to CoinDesk, that U.S. Senator Cynthia Lummis and several cryptocurrency advocacy groups are urging a federal court to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency exchange Coinbase. The filings argue that the SEC is overreaching its authority by bringing the case. Lobbying organizations including the Blockchain Association, Crypto Council for Innovation, Chamber of Digital Commerce, DeFi Education Fund, Chamber of Progress, and Consumer Technology Association, along with venture capital firms such as a16z crypto and Paradigm, and six academics, have collectively submitted six amicus briefs (excluding Lummis's filing).
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