SEC sued over Ethereum, crypto firm asks court to state token is not a security [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
backer of the Ethereum blockchain, filed a lawsuit against the agency in Texas federal court. The complaint seeks to head off an impending SEC lawsuit against the company over features of its popular MetaMask wallet, but also asks the court to resolve one of the biggest legal uncertainties hanging over the crypto industry by stating that Ethereum's digital token, Ether, is not a security. In its 34-page legal filing, Consensys uses dramatic language to argue that the SEC's efforts to exert jurisdiction over Ethereum is both illegal and a threat to blockchain technology more broadly. "The SEC's unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys. Every holder of ETH, including Consensys, would fear violating the securities laws if he or she were to transfer ETH on the network," the complaint states. "This would bring use of the Ethereum blockchain in the United States to a halt, crippling one of the internet's greatest innovations
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News
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- Bitcoin's Recent Weakness Is More Tied to Global Markets Than to Anything Crypto Specific, Coinbase Says [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/3/24 - Form 144
- 5/3/24 - Form 4
- 5/2/24 - Form 4
- COIN's page on the SEC website