TechFlow news, according to CrowdfundInsider, Coinbase Chief Legal Officer Paul Grewal confirmed via social media that Coinbase has responded to the U.S. Securities and Exchange Commission's (SEC) action blocking efforts to obtain "reasonable evidence" from SEC Chair Gary Gensler. Grewal emphasized that democracy and due process die in darkness, and expressed appreciation for the court's careful consideration of the matter.
In its official SEC filing, Coinbase cited the recent Binance BNB token precedent, noting that the SEC has taken a novel and broad view of securities laws, which remains uncertain. Coinbase now appears to be leveraging the momentum from U.S. Judge Amy Jackson's latest ruling in the SEC v. Binance case, highlighting that secondary market sales of BNB tokens may not meet the definition of securities offerings.
