Crypto Exchanges Bittrex and Coinbase Take on SEC in Lawsuits

Bittrex has filed a motion to dismiss the legal dispute with the SEC, arguing that the SEC lacks the authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. Bittrex aligns its arguments with Coinbase, asserting that assets traded on secondary markets should be considered commodities or other digital assets, not securities. The exchange also claims that the SEC did not adequately communicate that its actions were prohibited. Bittrex's motion to dismiss follows the SEC's charges against the exchange for running an unregistered national securities exchange.