News

Breaking: US SEC Gets Multiple Amicus Curiae Against Coinbase And Ripple

US SEC brings multiple amicus curiae against Coinbase after failing to convince Judge to file interlocutory appeal in Ripple lawsuit.
Published by
Breaking: US SEC Gets Multiple Amicus Curiae Against Coinbase And Ripple

In the latest development in the U.S. Securities and Exchange Commission v. Coinbase lawsuit, the SEC has asked multiple securities and legal entities to file amicus curiae against Coinbase. American Securities Administrators Association (NASAA), New Finance Institute, and Administrative Law Scholars are new amici curiae supporting the U.S. SEC.

Advertisement

SEC Strengthening Arguments In Coinbase Lawsuit

After failing to convince Judge Analisa Torres in the Ripple lawsuit to file an interlocutory appeal, the U.S. Securities and Exchange Commission (SEC) seeks to strengthen its arguments in the Coinbase lawsuit.

North American Securities Administrators Association has filed an amicus brief in support of the SEC. The NASAA asked the court to reject Coinbase’s motion for judgment on the pleadings.

NSAA made several arguments including Congress defined “security” broadly to effectively regulate investments, in whatever form they may take; digital assets mentioned in SEC’s enforcement actions are investment contracts under securities laws; and the Howey test does not require the existence of formal contractual undertakings. Moreover, it alleges that Coinbase’s staking program is an investment contract.

New Finance Institute (NFI) also filed an amicus brief in support of the SEC. It said neither “investing” nor “contract” are prerequisites to finding an “Investment Contract.” NFI argues that the SEC has the authority to regulate crypto and requests the court to deny Coinbase’s motion for judgment on the pleadings.

Administrative Law Scholars, Professors Todd Phillips and Beau Baumann also filed amicus briefs in support of the SEC to deny Coinbase’s motion for judgment on the pleadings.

Coinbase requested the court to dismiss the lawsuit claiming that the SEC has no jurisdiction over the crypto industry and it interferes with recent Congress’ efforts for a crypto regulatory framework.

Also Read:

Advertisement

Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push

Michael Selig is the latest candidate who has been chosen by President Donald Trump to…

October 25, 2025
  • News

First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest

Institutional momentum in XRP is accelerating as the first U.S. spot XRP ETF ($XRPR) reached…

October 25, 2025
  • Price Analysis

Can Hype Price Hit $50 After Robinhood Listing?

HYPE, the native token of the decentralized exchange Hyperliquid, has witnessed a notable price surge…

October 24, 2025
  • News

XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal

In the latest XRP news, Ripple has introduced 'Ripple Prime,' which it plans to integrate…

October 24, 2025
  • News

Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data

Traders are betting on the FOMC to make two more rate cuts this year following…

October 24, 2025
  • News

Crypto.com Joins Ripple in Banking License Bid Amid Industry Push for Market Structure Bill

Crypto.com has submitted an application with the U.S. National Trust Bank Charter. It aims to…

October 24, 2025