The attorneys for the former Coinbase employee and his brother charged with insider trading are looking to have the case dismissed.
A former product manager at cryptocurrency exchange Coinbase has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.on Feb. 6 in the United States District Court for the Western District of Washington to dismiss charges laid b the Securities and Exchange Commission .
Lawyers for the Wahi brothers argued the tokens allegedly purchased by the pair are akin to physical baseball cards, such as those pictured, which can sell for thousands. Image: “None of the tokens were like stock [...] The very object of each token was to facilitate activity on the underlying platforms and, in so doing, enable each network to develop and grow.”
They said the regulator “lacks clear congressional authorization to deem the tokens at issue to be ‘securities,’” and added:
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Former Coinbase manager seeks to dismiss watershed insider trading caseLawyers representing a former Coinbase manager and his brother moved to dismiss a Securities and Exchange Commission's insider trading case against them.
Les mer »
Discount retailer won’t open in former Kmart; leases former Bon-Ton spaceThe discount retailer had planned to open a 22,000-square-foot store in part of a former Kmart.
Les mer »
Trump moves internal: How the former president is focusing his attacks on former aidesFormer President Donald Trump is focusing his attention and attacks on his former aides whose names are being tossed around as potential 2024 GOP candidates.
Les mer »
City-County Council to consider former IPS leader Dr. Eugene White for library boardDr. Eugene White is a former IPS superintendent and former president of Martin University.
Les mer »
OPEC+ should get 'due recognition' for constructive role - OPEC Sec GenOPEC Secretary General Haitham Al Ghais said on Monday the collective decision to cut output in October was the right move and added that credit should be given to the OPEC+ alliance for its constructive role in supporting global market stability.
Les mer »
Rivals.com - SEC Spotlight: Breaking down the 2023 class
Les mer »