Coinbase Seeks to Toss SEC Suit, Citing Ripple Crypto Ruling (1)

Coinbase Global Inc. asked a judge to dismiss a Securities and Exchange Commission lawsuit against it, pointing to a recent decision by another judge who ruled that Ripple Labs’ XRP was not a security when sold on exchanges.

Coinbase, the largest US crypto exchange, filed its motion to dismiss Friday in federal court in Manhattan, arguing the SEC has no authority over its activities.

“The SEC has violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws,” Coinbase said.

The SEC sued Coinbase in June, alleged the nation’s largest crypto currency exchange was illegally ...