1 year ago
In the ongoing ineligible case betwixt the Securities and Exchange Commission (SEC) and cryptocurrency elephantine Coinbase, a important milestone has been reached by mounting a ineligible pleadings schedule.
This improvement was publicized connected Twitter by Coinbase’s Chief Legal Officer, Paul Grewal, who commended the tribunal for its “prompt attention” to the matter.
Coinbase vs. SEC Schedule
Documents filed connected Jul. 20 disclose a systematic program for the upcoming ineligible arguments successful the case. Both ‘Coinbase,’ the defendants, and the SEC, the plaintiff, submitted a associated connection to the tribunal outlining a bid of deadlines, chiefly for Coinbase’s anticipated question for judgement nether Federal Rule of Civil Procedure 12c.
| Coinbase’s question and opening brief | Aug. 4, 2023 | Aug. 4, 2023 | Coinbase volition contiguous its archetypal arguments and defenses against the SEC’s claims. |
| Amicus briefs successful enactment of Coinbase’s motion | 7 days aft Coinbase’s little (Aug. 11, 2023) | Aug. 11, 2023 | Independent parties providing further accusation oregon arguments supporting Coinbase’s presumption are owed to taxable their briefs. |
| SEC’s absorption brief | 30 days aft Coinbase’s little (Sept. 3, 2023) | Oct. 3, 2023 | The court-approved day for the SEC to contiguous its counterarguments to Coinbase’s archetypal brief. |
| Amicus briefs successful enactment of SEC’s opposition | 7 days aft SEC’s absorption brief | Oct. 10, 2023 | Independent parties providing further accusation oregon arguments supporting the SEC’s presumption are owed to taxable their briefs. |
| Coinbase’s reply brief | 21 days aft SEC’s absorption little (Oct. 24, 2023) | Oct. 24, 2023 | Coinbase volition respond to the SEC’s absorption brief, presenting counterarguments to the SEC’s positions. |
By the submitted proposal, Coinbase’s question and opening little are owed by Aug. 4, 2023. Following this, amicus briefs supporting Coinbase’s question are to beryllium submitted wrong a week, with amicus briefs supporting the SEC’s absorption owed a week aft the SEC’s absorption brief. Coinbase’s reply little is owed 21 days aft that.
A statement has not been reached connected the SEC’s absorption little deadline. Coinbase has projected a deadline of 30 days aft their archetypal question and opening brief, portion the SEC has projected a 60-day timeframe. At this juncture, the tribunal acceptable a day for the SEC’s absorption little connected Oct. 3, 2023.
The missive states,
“The parties person not been capable to scope an statement with respect to the deadline for the SEC’s absorption brief.”
The tribunal bid besides outlined circumstantial leafage limits for the assorted submissions: 30 pages for Coinbase’s opening little and the SEC’s absorption brief, 15 pages for Coinbase’s reply brief, and 20 pages each for immoderate amicus briefs.
The SEC has indicated that it volition not record a question to onslaught immoderate of Coinbase’s affirmative defenses nether Federal Rule of Civil Procedure 12(f).
The tribunal bid besides said it is modular for the tribunal to intermission the find process portion waiting for a determination connected a question that could wholly resoluteness oregon dispose of the case.
For this reason, the tribunal declined to o.k. the lawsuit absorption program submitted by the parties astatine this time.
Grewal, successful a consequent tweet, delved into the value of the ineligible timeline according to U.S. Code, stating,
“Although 28 USC 1292(b) is silent, 10 days ever made consciousness to maine arsenic the close deadline to question DCT certification of an bid for interlocutory appeal. After all, that’s the deadline to petition the appellate court. 10 tribunal days from Judge Torres’ ruling is tomorrow.”
With this development, the ineligible conflict has entered a important stage. Given its imaginable to impact the broader crypto industry, the crypto community, and ineligible observers volition travel this lawsuit closely.
The station Key dates acceptable for SEC vs Coinbase lawsuit, archetypal arguments successful August appeared archetypal connected CryptoSlate.
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