SEC has no jurisdiction over crypto on Coinbase’s platform, claims exchange in response to regulator’s lawsuit

In its first legal response to the regulator’s lawsuit, US crypto exchange Coinbase claimed that digital assets listed on its platform are outside the purview of the US Securities and Exchange Commission (SEC). The SEC sued Coinbase in early June, alleging that a dozen cryptocurrencies offered through its wallet or trading platform were unregistered securities. In its reply filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore not securities.