Legal Expert: Coinbase Faces 40% Likelihood of SEC Lawsuit Dismissal
XRP advocate and attorney John Deaton has shared insights on Coinbase’s potential success in the lawsuit. Brought by the U.S. Securities and Exchange Commission (SEC) against the exchange.
Speaking at the iConnections Global Alts conference, Deaton expressed confidence in Coinbase’s chances of having the SEC’s lawsuit dismissed before reaching trial. He emphasized the significance of Coinbase’s motion to dismiss. Attributing it a substantial probability of success, estimating it around 40%. Despite potential legal proceedings. Deaton foresees Coinbase prevailing in the end, whether at the district court, Second Circuit, or ultimately, the Supreme Court.
Notably, Deaton and hedge fund veteran Anthony Scaramucci both anticipate Coinbase emerging victorious as the case progresses through the judicial system, highlighting the importance of the case in shaping regulations and access to cryptocurrencies in the United States.
Clever Robot News Desk 8th February 2024