Coinbase has filed a motion to compel the U.S. Commodity Futures Trading Commission (CFTC) to produce communications with issuers of 12 tokens named in a related lawsuit brought by the Securities and Exchange Commission (SEC).
The cryptocurrency exchange wants this information to help it in a lawsuit that is ongoing in the Southern District of New York (SDNY). This follows a previous order by the court to the SEC to produce similar documents that Coinbase has said are crucial for the case.
Coinbase Seeks CFTC Compliance Following SEC Lawsuit
Coinbase’s motion comes after a court ordered the SEC to produce records of communications between the US SEC and the issuers of the 12 tokens in question. The SEC has accused Coinbase of listing these tokens without meeting the necessary requirements to be a securities exchange and states that the assets are unregistered securities under the Howey Test.
According to the exchanges CLO Paul Grewal, they disputes this, saying that the Commodity
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