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Coinbase Vs. SEC: Support Grows for Dismissal of Lawsuit As New Attorney Joins Fray



The Coinbase vs. United States Securities Exchange Commission (SEC) lawsuit has garnered widespread support from the crypto community, digital asset organizations, and lawmakers who are advocating for its dismissal. A recent development in the case has seen attorney Patrick V. Kennedy from McDermott Will & Emery entering the fray, seeking court approval to represent the Chamber of Digital Commerce as amicus counsel.

In a legal document filed on August 31, attorney Patrick V. Kennedy presented a request to be admitted “pro hac vice,” which translates to “for this occasion.” He intends to serve as counsel for Amicus, The Chamber of Digital Commerce.

According to Kennedy’s letter, “Pursuant to Rule 1.3 of the Local Rules of the United States Courts for the Southern and Eastern Districts of New York, I, Patrick V. Kennedy, respectfully move this Court for an order for admission to appear pro hac vice as counsel for amicus The Chamber of Digital Commerce in the above-captioned matter.”

Kennedy’s motion is substantiated by several key points. Firstly, he holds the position of Associate at McDermott Will & Emery, the legal firm representing the Chamber of Digital Commerce in the ongoing lawsuit. Secondly, Kennedy is an active member in good standing of the New York Bar, having gained admission in 2020.

Notably, his impeccable legal record is free from any felony convictions, censures, suspensions, disbarments, or denials of admission or readmission by any court, and there are no pending disciplinary proceedings against him in any state or federal court. Lastly, in accordance with Local Rule 1.3(c), Kennedy’s affidavit has been diligently attached to his motion, providing additional weight to his request for admission as counsel in the case.

Coinbase Executives Remain Optimistic

Coinbase executives Brian Armstrong and Paul Grewal have expressed optimism regarding the dismissal of the lawsuit. Grewal notably contends that the SEC, along with its Chair, Gary Gensler, are making efforts to stifle cryptocurrency innovation within the United States. Concurrently, lawmakers have joined the chorus, urging the court to dismiss the lawsuit, emphasizing the broader implications it may have on the crypto industry.

The crypto community, digital asset organizations, and now legal representation from Patrick V. Kennedy are collectively marshaling their resources to ensure a favorable outcome in the ongoing legal battle between Coinbase and the SEC. The outcome of this case will undoubtedly have significant ramifications for the cryptocurrency landscape in the United States.


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