{"id":20065,"date":"2023-07-18T02:10:25","date_gmt":"2023-07-18T02:10:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/could-coinbases-sec-battle-come-down-to-its-s-1-filing\/"},"modified":"2023-07-18T02:10:47","modified_gmt":"2023-07-18T02:10:47","slug":"could-coinbases-sec-battle-come-down-to-its-s-1-filing","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/could-coinbases-sec-battle-come-down-to-its-s-1-filing\/","title":{"rendered":"Could Coinbase’s SEC Battle Come Down to Its S-1 Filing?"},"content":{"rendered":"
In the ongoing legal confrontation between cryptocurrency exchange giant Coinbase and the U.S. Securities and Exchange Commission (SEC), District Judge Katherine Polka Failla has raised eyebrows in the crypto community with her probing questions and comments related to the SEC\u2019s 2021 approval of Coinbase\u2019s S-1 filing.\u00a0The relevant courtroom exchanges unfolded during a pre-motion hearing on July 13 and centered on Coinbase\u2019s initial public offering (IPO) in 2021.<\/p>\n
Coinbase\u2019s IPO, which required an effective S-1 filing with the SEC, allowed the company\u2019s shares to be publicly traded for the first time. S-1 filings are the type of registration required by the SEC for new securities for public, U.S.-based companies. In June, the SEC filed a civil lawsuit against Coinbase alleging securities law violations, though it raised no concerns at the time of the IPO, a contrast Judge Failla called out in the case\u2019s hearing held last week. <\/p>\n
In court documents revealing the conversation that took place during the hearing, Judge Failla conjectured that Coinbase may have inferred their actions as permissible from the SEC\u2019s lack of opposition during the S-1 filing process.<\/p>\n