Coinbase has filed an application with the court to "completely" dismiss the lawsuit brought against it by the US SEC.

BlockBeats reported on August 4th that Coinbase has submitted a motion to the court to "completely" dismiss the lawsuit filed against it by the U.S. SEC. The application states that "trading on the Coinbase platform and Prime does not involve contractual obligations to deliver future value to reflect business revenue, profits, or assets. These are commodity sales transactions, where both parties fulfill their responsibilities at the same time as the delivery of digital tokens in exchange for payment." The U.S. SEC filed a lawsuit against Coinbase in June of this year, alleging that the exchange violated federal securities laws in its operations by acting as an unregistered broker, exchange, and clearinghouse, and by handling cryptocurrencies that are considered securities. The SEC cited 13 tokens as examples that meet these requirements.