A New York judge has granted a joint request from Coinbase and the SEC to establish dates for initial briefs and subsequent responses. A date has been set for Coinbase and the SEC to present their initial arguments in the ongoing lawsuit between the cryptocurrency exchange and the United States Securities and Exchange Commission.
Date Set for the Coinbase-SEC Trial
Coinbase’s Chief Legal Officer, Paul Grewal, announced via Twitter on July 24th that Judge Katherine Polk Failla of New York had granted the joint request from Coinbase and the SEC to move forward with hearings.
Judge Failla has issued a scheduling order for our Rule 12(c) motion for judgment on the pleadings. We appreciate the Court's prompt attention to this matter. pic.twitter.com/XhR4hy0FDf
— paulgrewal.eth (@iampaulgrewal) July 23, 2023
According to the initial document submitted by Coinbase and the SEC, an agreement has been reached for Coinbase’s motion and opening brief to be due on August 4th, 2023. The document also outlines time frames for the submission of supporting documents and responses, as well as their respective lengths.
Despite reaching an agreement on other deadlines, Coinbase and the SEC were unable to agree on a deadline for the SEC’s opposition brief. Coinbase proposed a deadline of 30 days after its opening motion and brief, while the SEC proposed a deadline of 60 days.
Judge Failla partially approved the request, granting Coinbase’s proposed deadline of August 4th for the initial brief and August 11th for supporting documents.
Judge Failla resolved the disagreement over the deadline for the SEC’s opposition brief by setting a due date of October 10th, 2023, or earlier. Coinbase’s reply is due by October 24th or sooner.
In response to the lawsuit, Coinbase announced on July 14th that it will temporarily suspend the ability for customers in California, New Jersey, South Carolina, and Wisconsin to stake additional assets until further notice.
On July 14th, in response to the lawsuit, Coinbase declared that it will pause the option for customers in California, New Jersey, South Carolina, and Wisconsin to stake more assets until further notice.
