In March 2023, Coinbase filed an amicus brief in a case against a former Coinbase product manager and his accomplices, in which they took issue with assertions by the SEC that several cryptocurrency tokens listed on Coinbase were securities. In April, Coinbase filed a petition for a writ of mandamus, urging the court to compel the SEC to respond to its petition filed less than a year prior, and claiming that the SEC had already made a decision to reject it but had not published that decision. Responding to the recent lawsuit against his company, Coinbase CEO Brian Armstrong tweeted: “Remember: The SEC reviewed our business and allowed us to become a public company in 2021.” Chief legal officer Paul Grewal has made similar statements.

Source: “But the SEC let us go public” and other flawed arguments in Coinbase’s defense

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