Coinbase SEC Appeal Backed by Senate Digital Assets Panel Chair

Coinbase Inc.‘s fight against SEC claims that it operated an unregistered securities exchange should go to the Second Circuit, Sen. Cynthia Lummis, who leads a new congressional digital assets subcommittee, said in a court brief.

The US Court of Appeals for the Second Circuit can provide much-needed guidance for the cryptocurrency industry and the agency, Lummis (R-Wyo.) said.

It’s “vital that the Second Circuit—the country’s leading securities law court—weigh in now and halt the SEC’s contravention of the separation of powers and encroachment on Congress’s lawmaking powers,” she said in her Jan. 24 brief. “A Second Circuit standard ...