A lawsuit that is incredibly important for the overall digital asset industry is set to begin rather soon. Indeed, Coinbase and the US Securities and Exchange Commission (SEC) have seen the court dates for their initial arguments confirmed. Setting in motion the impending lawsuit.
According to Coinbase Chief Legal Officer, Paul Grewal, New York Judge Katherine Polk Failla has approved a jointly made request to settle the necessary dates. Subsequently, the opening briefs of the lawsuit will be due by August 4th, 2023. Thus, the start of the initial arguments is only a week away.
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Coinbase Vs. SEC Court Dates are Set
This year has seen a renewed fight over the regulatory standard within the digital asset industry. Moreover, the SEC has continued its enforcement embrace, charging cryptocurrency exchanges Coinbase and Binance with various securities law violations. Now, the impending lawsuit with the former has seen its start date solidified.
Specifically, Coinbase and the SEC have confirmed the court dates for their initial arguments in a recent Tweet from the exchange’s executive. Moreover, the two entities have agreed that Coinbase’s motion and opening arguments are set to be due in the first week of August.
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Additionally, the agreement included time for responses from both parties. Moreover, there has yet to be an agreement in place for when the SEC’s opposition brief will be due. However, Coinbase has proposed a 30-day window between its opening motion and brief and the SEC’s response. Alternatively, the SEC proposed a 60-day time window.
Subsequently, Judge Failla’s approval is granted “in part,” with Coinbase’s August 4th deadline included. Additionally, that approval includes the August 11th deadline for supporting documents.
Moreover, because no agreement on the opposition brief was reached, the Judge opted to enforce its required due date to be October 10th, 2023. Thereafter, Coinbase’s reply would be due by October 24th.
