In the latest update on the SEC v. Coinbase legal battle, legal expert James "MetaLawMan" Murphy has analyzed developments, offering insights into the forthcoming proceedings. The case, which holds immense significance in the crypto industry, has taken an intriguing turn with Judge Failla's issuance of a scheduling order.
Godfrey BenjaminThe schedule, as revealed by Judge Failla, sets critical milestones in the case, indicating a notably fast-paced timeline for a case. Coinbase's opening brief is expected to be presented on Aug. 4, while amicus briefs supporting the major exchange will be filed on Aug. 11. Following this, the SEC has until Oct. 3 to submit its opposition brief, and amicus briefs supporting the regulator will be accepted until Oct. 10. Lastly, Coinbase's reply brief is due on Oct. 24.
Judge Failla has issued a scheduling order for our Rule 12(c) motion for judgment on the pleadings. We appreciate the Court's prompt attention to this matter. pic.twitter.com/XhR4hy0FDf
— paulgrewal.eth (@iampaulgrewal) July 23, 2023
As Murphy points out one crucial aspect of the order is the explicit inclusion of amicus briefs. It is uncommon for judges to permit amicus briefs at such an early stage in a case, says the expert.
Another noteworthy detail is that the SEC had initially requested a 60-day window to respond to Coinbase's motion, but Judge Failla granted them only 30 days. This, according to MetaLawMan, indicates a sense of urgency in expediting the case, reflecting the judge's keen interest in swift proceedings.
Tomiwabold OlajideOverall, concludes Murphy, Coinbase's strategy to expedite the proceedings appears to be gaining traction, with the court's support evident in the accelerated schedule and the allowance of amicus briefs. As the case unfolds, all eyes will be on these crucial dates, with the next major developments expected in less than three weeks.
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov