Coinbase has submitted a response brief to the SEC's charges, stating that the charges go beyond the agency's jurisdiction.

According to BlockBeats news on October 25th, Coinbase submitted a reply brief to the US Securities and Exchange Commission (SEC) regarding the agency's accusation that Coinbase had not registered as a securities exchange, broker, and clearing agency. Coinbase stated that the SEC's accusation exceeded its jurisdiction. In the Coinbase document, it was stated that "because the SEC's complaint does not and cannot allege that its identified simple asset trades involve continuing corporate obligations, Coinbase is entitled to judgment on the pleadings. In addition, the US Securities and Exchange Commission believes that any purchase behavior where buyers seek appreciation constitutes an investment contract and therefore a security, which is an attempt to expand its own power fundamentally, as clearly stated in the principle of major issues. If an institution wants to make a decision on a matter of significance, it must have the support of explicit congressional authorization, and expanding federal securities laws is within the scope of Congress' responsibilities."