SEC to present response to Coinbase’s legal defense on July 13

The United States Securities and Exchange Commission (SEC) will present its action to Coinbases very first legal defense on July 13, according to a court order issued on Thursday, June 29. In a legal document filing, the SEC submitted a demand to the court for a three-business-day extension. This extension was sought to supply the SEC adequate time to prepare an action to the letter submitted by Coinbase, the defendant. The accuseds have actually accepted the request.The previous deadline for the SEC to submit its action to Coinbases letter was July 3, 2023, according to Rule 4(A) of the courts private guidelines. Nevertheless, Judge Katherine Polk Failla approved the SECs request for more time and set the new date of July 13. In addition, the court rescheduled the pre-trial conference to a pre-motion conference, bringing it forward to July 13 at 2:00 pm UTC instead of its initial date of Aug 24. A pre-motion conference is a demand provided by the district attorney or defense attorney to the court seeking a ruling on a particular matter prior to the trial.Screenshot of the SECs letter to the court asking for a deadline extension. Source: CourtListenerIn the meantime, Coinbase just recently submitted a letter to the court dated June 28, 2023, requesting leave to file a motion for judgment on the pleadings under Federal Rule of Civil Procedure 12(c). This movement was submitted in reaction to the SECs problem. Earlier, Coinbase had actually likewise filed a 177-page answer to the problem 40 days prior to the due date of Aug. 7. Related: U.S. House committee chairs, Blockchain Association show up heat on SEC head GenslerIn the context of a movement for judgment on the pleadings, it is necessary to keep in mind that a judge has the authority to review additional pleadings submitted in the event, including the offenders response to the problem. In Coinbases answer, it included a thorough “Preliminary Statement” describing its legal arguments for the dismissal of the case, thus supplying the judge with significant material to consider.Coinbase has actually countered the SECs grievance by asserting that a significant variety of the tokens discussed in the SECs case are beyond the scope of the commissions jurisdiction.Magazine: SEC hates Metaverse …