SEC v. Coin hearing postponed until next Monday

Coin is expected to file a hearing postponement request due to today’s weather.

According to a meeting minute released on January 19th, today’s court hearing between Coin and the SEC has been postponed.

The order announced the following:

“Officials have just announced that due to inclement weather, the court will be closed for live proceedings. Accordingly, today’s motion hearing is reset to Monday, January 22, 2024 at 10:00 a.m.”

Another report from Reuters indicates that Coin is expected to argue for the dismissal of the SEC’s case at the upcoming hearing.

According to one of Reuters’ sources, Coin is unwilling to reach an out-of-court settlement with the SEC as it has done with other U.S. agencies. Coin may need to recognize that some of the cryptocurrencies mentioned in the case are securities that need to be settled with the SEC, and doing so could affect the company’s business model, the source said.Bitcoin mining

Coin also believes it has a strong case that the SEC overstepped its authority and that the regulator has yet to prove fraud, another source said.

SEC filed charges in June 2023

The SEC initially filed charges on June 5, 2023 against Coin and its former CEO, Changpeng Zhao. At the time, the securities agency alleged that Coin operated unregistered exchanges, broker-dealers, and clearing agencies, and engaged in unregistered offers and sales of securities.

It also accused the company of being responsible for skewing trading controls and oversight on its U.S. platform, Binance.US.

Just a day after launching charges against Coinbase, the U.S. Securities and Exchange Commission (SEC) filed similar charges against another exchange, Coinbase. At Coinbase’s latest hearing, a judge addressed the possibility of dismissing the case, but declined to rule. She told both sides to take it as a “compliment,” suggesting that both sides had valid arguments.Kadena Mining

The U.S. Securities and Exchange Commission (SEC) filed similar charges against Kraken in November, and the case has not yet progressed to the level of the other two.