US SEC uses Terraform ruling to hint at how to handle Coinbase motion to dismiss

Odaily Planet Daily News The US SEC recently filed a document in the lawsuit against the cryptocurrency mining company Green United, which may reveal how it handles the case against Coinbase. On July 31, District Judge Jed Rakoff denied Terraform Lab's motion to dismiss, rejecting its argument based on the "significant issues doctrine," and the SEC won. Green United used the same argument in its own motion to dismiss, which is the core argument of the defendants’ crypto companies (Coinbase, etc.) in their case against the SEC. In an Aug. 4 filing, the SEC said the recent Terraform Labs ruling provides additional authority to deny Green United's main issue doctrine and fair notice defenses. “The court rejected the defendant’s argument that the ‘significant issues doctrine’ and the due process clause prevented the SEC from alleging that the company’s digital assets were ‘investment contracts.’ As such, Terraform Labs is relevant in this matter because it provides additional power to deny the defendant's 'substantial question doctrine' and fair notice defenses." The SEC’s latest arguments may shed light on how it handled Coinbase’s own motion to dismiss, which was also filed on Aug. 4. (Cointelegraph)