Coinbase, a major cryptocurrency exchange, has filed a motion to dismiss the lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC). The lawsuit alleges that Coinbase facilitated unregistered trading in 12 digital tokens classified as securities by the SEC. Coinbase strongly contests these claims, arguing that the SEC's interpretation of securities laws exceeds existing legal frameworks. The exchange's legal team argues for the dismissal of the lawsuit, citing violations of due process rights and characterizing the SEC's actions as an "extraordinary abuse of process." Coinbase asserts that the assets in question are not securities and points out inconsistencies in the SEC's previous decisions. The exchange also highlights its compliance efforts and prior approval from the SEC for its registration statement, enabling it to trade numerous tokens, including some of those currently disputed. The outcome of this legal battle could have significant implications for cryptocurrency regulation and the evolving digital asset landscape.

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