Cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) has petitioned a federal court to file an amicus curiae brief intending to support Ripple (CRYPTO: XRP) in its fight against the U.S. Securities and Exchange Commission, contending that the regulator has failed to keep pace with the digital assets industry.
In a series of tweets, Paul Grewal, Coinbase’s chief legal officer stated that the Constitution guarantees that government agencies cannot condemn conduct as a violation of law without providing fair notice that the conduct is illegal and that by suing sellers of XRP tokens after making public statements signaling that those transactions were lawful, the SEC has lost sight of this bedrock principle.
