Amidst increased regulatory scrutiny in the cryptocurrency industry, Coinbase Global Inc (NASDAQ: COIN), a prominent American digital assets service provider, has adopted a strategic legal approach to actively influence court rulings in unrelated cases. The aim is to shape specific viewpoints and perspectives on legal questions that are crucial to Coinbase’s ongoing legal battle with the US Securities and Exchange Commission (SEC).
Coinbase Global has enlisted highly regarded attorneys in two separate crypto-related lawsuits filed by the SEC before the Commission initiated its own lawsuit on June 6. The SEC alleges that Coinbase operated without proper authorization in the United States, prompting Coinbase to proactively engage in these cases to potentially strengthen its defense strategy.
Although a favorable ruling in an unrelated crypto case at the trial court level may not directly impact Coinbase’s current situation with the SEC, legal experts suggest that Coinbase could potentially leverage such a ruling as part of its defense.
This strategic maneuvering demonstrates Coinbase’s commitment to navigating the unregulated nature of crypto assets and defending its position amidst growing government scrutiny.
Coinbase has been an active advocate for the establishment of a clear regulatory framework for digital assets. Earlier this year, the exchange launched a pro-crypto policy campaign called Crypto435, urging US policymakers to develop comprehensive legislation governing the use of cryptocurrencies in the country.
Additionally, Coinbase plans to mobilize 50 million crypto enthusiasts and users to unite in their respective districts to advocate for clear regulations in the crypto space. This initiative follows the SEC’s issuance of a Well Notice to Coinbase, notifying them of a potential civil suit.