![]() ![]() Prominent New York-based investment bank H.C. Analysts’ Positive Outlook on Coinbase Stock MetaLawMan says there is a small chance that the SEC will agree to engage in rule-making if just one Commissioner withdraws their support for SEC Chair Gary Gensler’s “regulation-by-enforcement” strategy. The SEC Commissioners will have to approve any response to the company’s action. It is expected that major industry participants and the House Financial Services Committee or individual members may back Coinbase by submitting amicus briefs. Possible Support from Industry Players and Government Officials This may influence other judges to take note of the SEC’s inconsistent stances in similar cases. While the lawsuit may not directly affect the SEC’s threat to sue Coinbase, it draws attention to the regulator’s contradictory positions regarding its authority to regulate digital assets, says MetaLawMan. Coinbase is seeking a Writ of Mandamus, a court order compelling the SEC to make a decision on the company’s request for rule-making. With experience in defeating government agencies, including the SEC, the team is well-equipped to handle the lawsuit. Advertisement Distinguished Legal Team Spearheading the CaseĬoinbase’s legal team is led by Eugene Scalia, former Secretary of Labor and son of the late Supreme Court Justice Antonin Scalia.
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