Jenner & Block Files Amicus Brief on Behalf of Senator Lummis in SEC v. Coinbase

On August 11, a Jenner & Block team filed an amicus brief on behalf of US Senator Cynthia Lummis, R-WY, expressing concerns about the SEC’s overreaching authority in SEC v. Coinbase.

The brief argues that the SEC’s enforcement in this case runs counter to ongoing legislative efforts, improperly expands the definition of “securities,” and violates the separation of powers.

“There is a reason the Constitution favors legislation over agency enforcement actions. A statutory framework balances competing interests and provides both fair warning of obligations and a meaningful opportunity for compliance. Relying on enforcement actions, by contrast, gives little forewarning and scares away good actors in the process,” the brief states. “The SEC cannot legislate by enforcement.” 

The team was led by Partners Michelle Kallen and Kayvan Sadeghi and includes Associates Sarah Purtill and William Ryan.

Read the brief.

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© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.

Jenner & Block Files Amicus Brief on Behalf of Senator Lummis in SEC v. Coinbase

On August 11, a Jenner & Block team filed an amicus brief on behalf of US Senator Cynthia Lummis, R-WY, expressing concerns about the SEC’s overreaching authority in SEC v. Coinbase.

The brief argues that the SEC’s enforcement in this case runs counter to ongoing legislative efforts, improperly expands the definition of “securities,” and violates the separation of powers.

“There is a reason the Constitution favors legislation over agency enforcement actions. A statutory framework balances competing interests and provides both fair warning of obligations and a meaningful opportunity for compliance. Relying on enforcement actions, by contrast, gives little forewarning and scares away good actors in the process,” the brief states. “The SEC cannot legislate by enforcement.” 

The team was led by Partners Michelle Kallen and Kayvan Sadeghi and includes Associates Sarah Purtill and William Ryan.

Read the brief.

Related Capabilities

© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.

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