⚠️ BittrexExchange has requested the dismissal of the SEC lawsuit! What drove the company to mirror coinbase`s move? Read here -
Last week, Coinbase filed to dismiss the charges brought against it by the SEC. Motivating its approach, the exchange accused the agency of overreach, stating that crypto assets may not even come under their purview.prior approvals given for the sale of some of the digital assets named in its lawsuit.Although Bittrex is also in court due to bankruptcy procedures, the motion filing for dismissal of charges pertains to a different lawsuit, filed shortly after the companyto leave America behind.
, Bittrex argued that although crypto assets may be considered securities when they launch, they change their status once they are traded on secondary markets. As such, these crypto assets should be classified as commodities. Furthermore, Bittrex’s legal team argued that even if the court were to find that said crypto assets do, in fact, qualify as securities, the SEC has no right to attempt to regulate them since US Congress has not authorized the agency to do so.
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