🚨US regulators argued in a statement on Tuesday that Coinbase's attempt to eliminate the securities law violation it faced should be rejected. The SEC sued Coinbase in June, saying the US-based company had not registered as a securities exchange with the market regulator. Coinbase attempted to dismiss this lawsuit.

"This case revolves around whether Coinbase traded in 'investment contracts' and whether customers on Coinbase's trading platform are entitled to the protections provided by the federal securities laws, which require brokers of securities transactions to register with the SEC," the SEC said in a statement Tuesday. " said.

Coinbase argues that crypto transactions do not meet the definition of an investment contract. The SEC disagrees with this.

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