Coinbase, a16z, Multicoin Capital, and Paradigm have filed an amicus brief supporting Beba LLC and DeFi Education Fund’s preemptive lawsuit against the SEC.
Crypto firms and organizations have been filing supporting briefs in a lawsuit filed by a Texas apparel company and the DeFi Education Fund (DEF) against the United States Securities and Exchange Commission over its clarification of crypto assets and lack of rules.
Crypto and venture capital companies, including Coinbase, Andreessen Horowitz, Multicoin Capital, Paradigm, Union Square Ventures, and Variant, voiced their support for Texas-based Beba LLC and the DeFi Education Fund’s lawsuit in an amicus brief filed on Oct. 28.
“The SEC is wrong to ignore the harm that companies like Beba suffer from the threat of enforcement and the lack of clear guidelines,” the brief stated.
