🧐 SECGov claims that Terraform Lab's ruling shows it has the authority to police the crypto space, hinting at how it will respond to a lawsuit dismissal motion from coinbase.
A recent filing from the United States Securities and Exchange Commission in its lawsuit against crypto miner Green United could shed light on how it may approach the case against Coinbase.to dismiss the case, rejecting its argument that relied on the “major questions doctrine.”
Purported crypto miner Green United has used the same argument in its own motion to dismiss. It has also been a centerpiece for crypto defendants in cases against the SEC, including from crypto exchange Coinbase. However, in an Aug. 4 filing, the SEC said the recent Terraform Labs ruling provides additional authority for rejecting Green United’s major questions doctrine andThe court rejected the defendant’s arguments that the major questions doctrine and the due process clause “prevent the SEC from alleging the company’s digital assets to be ‘investment contracts,’” the SEC’s letter reads.
“Accordingly, Terraform Labs is relevant to this matter because it provides additional authority for rejecting Defendants’ ‘Major Questions Doctrine’ and fair notice defenses,” it added. The latest arguments from the SEC could shed light on how it may approach Coinbase’s own motion to dismiss, which was also filed on Aug. 4.the SEC lawsuit, the crypto exchange argued that the major questions doctrine applied, as the SEC attempted to regulate the secondary market for crypto trading.
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