“To distract from the deadly flaws in its authorized arguments, Coinbase cries foul and seeks guilty the SEC for its present authorized predicament,” the SEC stated Tuesday. “It contends the SEC blessed Coinbase’s violative conduct when Coinbase went public, that SEC Chair Gary Gensler’s reply to a query at a Congressional listening to (which Coinbase distorts) controls this Court docket’s utility of the federal securities legal guidelines, and that the SEC in any case lacks authority to control securities transactions that contain crypto belongings.”
