CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Bittrex Mirrors Coinbase, Requests SEC Lawsuit Dismissal

03.07.2023
A A
0
127
VIEWS
ShareShare

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.

The leading US crypto exchange also accused the SEC of ignoring prior approvals given for the sale of some of the digital assets named in its lawsuit.

Emboldened by Coinbase’s move, Bittrex has decided to follow suit.

Lawsuits and Bankruptcies

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 company decided to leave America behind. At that point, it had already been under investigation since 2017 and had been in fruitless talks with the SEC since 2022.

In the end, a Wells notice, followed by a full-blown lawsuit, was filed against Bittrex for listing unregistered securities. However, the firm has now hit back at the SEC, stating that the crypto assets they were sued over are not securities at all.

ADVERTISEMENT

Publicly Traded Crypto Assets Misclassified as Securities

According to court documents, 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.

“Tokens are not a new kind of security; they are different in kind from anything the Commission has ever considered a security. They bear far more resemblance to commodities or property than to the “investments” that were the focus of “Congress’ purpose in enacting the securities laws.”

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.

Bittrex’s legal team has likened the SEC trying to control crypto assets to the FDA’s attempt to control tobacco or the EPA’s experiment to regulate greenhouse gases, both considered as government agency overreach.

In closing, Bittrex’s legal counsel also pointed to a 2021 declaration by Gary Gensler himself, in which he admitted to Congress that the SEC has no legal framework for cryptocurrencies.

Whether Coinbase and Bittrex will have any success with these attempts is up for debate – nevertheless, they are clearly indicative of the growing frustration with spur-of-the-moment regulation attempts from the SEC, who seem to prefer lawsuits over good-faith attempts at breaching the gap with crypto platforms.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?
All news

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
0

A bullish XRP price prediction is gaining traction again as Ripple’s long-term position looks increasingly strong – despite SWIFT’s recent...

Read moreDetails
Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

03.10.2025
PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

02.10.2025
CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

02.10.2025
From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

02.10.2025
Load More
Next Post
People’s Bank of China (PBOC) Appoints Crypto Dissenter as Governor

People’s Bank of China (PBOC) Appoints Crypto Dissenter as Governor

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

GBTC Bitcoin ‘discount’ may be gone by 2024 as share price gains 17%

GBTC Bitcoin ‘discount’ may be gone by 2024 as share price gains 17%

2 years ago
South Korea Plans to Ban Crypto Purchases Using Credit Cards

South Korea Plans to Ban Crypto Purchases Using Credit Cards

2 years ago
Burnt Banksy, CEO of XION, on Being ‘Stupid’ for Burning a Banksy Painting and Industry Being ‘Extremely Close’ to Mass Adoption Via Chain Abstraction | Ep. 353

Burnt Banksy, CEO of XION, on Being ‘Stupid’ for Burning a Banksy Painting and Industry Being ‘Extremely Close’ to Mass Adoption Via Chain Abstraction | Ep. 353

1 year ago
Gensler hints Grayscale ruling forced SEC to take ‘new look’ at Bitcoin ETFs

Gensler hints Grayscale ruling forced SEC to take ‘new look’ at Bitcoin ETFs

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

$4B BTC in 4 weeks: How Bitcoin ETFs buy more than double the BTC mined

The PioneerHash Cloud Mining App, a Global Hit by 2025

Trending

Will a Europe-US BTC reserve race actually happen?
Analysis

Will a Europe-US BTC reserve race actually happen?

03.10.2025
0

Swedish opposition MPs from the Sweden Democrats filed a parliamentary motion on Oct. 2, urging the government...

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
Why is Bitcoin near all-time highs? Everything that happened in crypto today

Why is Bitcoin near all-time highs? Everything that happened in crypto today

03.10.2025
Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

03.10.2025
PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

02.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz