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The cryptocurrency exchange Coinbase has applied to a federal court to grant permission to file a
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Friend of the court (amicus) motion in the ongoing litigation against the U.S. Securities and Exchange Commission (SEC) and Ripple Labs.
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The exchange questioned the possibility that the SEC offered "fair notice" before taking its enforcement action
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And took aim at the most common business complaint that says the SEC has not given clear direction for businesses involved during enforcement.
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Coinbase also argued they believe the SEC has not been consistent in its enforcement policy, which creates "uncertainty" for companies in the industry.
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Most of the filing is focused on this issue and defending the belief that the regulator hasn't taken any action that could "provide the regulatory clarity" firms would like.
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The filing also focuses on the idea that cryptocurrency could be considered a traditional security.
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