Oral arguments on Coinbase’s motion to dismiss SEC lawsuit set to begin Wednesday

Coinbase’s previous motion to dismiss the SEC lawsuit will begin oral arguments in a Manhattan court on Wednesday morning, Eastern Time. The hearing provides both sides with an opportunity to plead their case to presiding Judge Katherine Polk Failla, who may choose to dismiss the case in whole or in part, send it to a jury trial, or issue a summary judgment. The US SEC sued Coinbase in June 2023 for operating as an unregistered broker, exchange and clearing agency. People familiar with the matter said it was unlikely that the case would be dismissed entirely, but Failla's choice to hold oral arguments suggested there was still some possibility. It could take weeks or months for a judge to issue a ruling, and if the case is not dismissed outright, both sides will move into discovery. (Blockworks)