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Coinbase cites Ripple case in bid to dismiss SEC lawsuit

Coinbase has used the recent Ripple Labs case to argue against the Securities and Exchange Commission's (SEC) case against them. The crypto exchange claims that the SEC's attempt to classify a simple asset sale as a security is an unprecedented stretch, and that the judge's recent decision with Ripple supports their argument. Coinbase also cited the major questions doctrine, which requires clear congressional authorization for an agency to decide on an issue of major national significance, as applying to their case against the SEC. The SEC and Ripple have been in a legal fight since 2020, when the agency accused Ripple of raising $1.3 billion through the sale of XRP, which it says is an unregistered security.

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