Wyoming Senator Cynthia Lummis has pledged her support for U.S. crypto exchange Coinbase by filing an amicus brief backing its motion to dismiss the Securities and Exchange Commission (SEC) complaint.
On August 11, Republican representative Cynthia Lummis submitted an amicus curiae brief to the United States District Court for the Southern District of New York.
Coinbase SEC Battle Rages On
An amicus curiae is an individual or organization that is not a party to a legal case. However, they are permitted to assist a court by offering information, expertise, or insight that has a bearing on the issues in the case.
Senator Lummis argued that Congress had not granted the SEC any authority to regulate or classify crypto assets. The brief contends the SEC is encroaching on Congress’s role by asserting broad authority over crypto markets and assets.
Defining the contours of crypto regulation in this country is a job for Congress and…
