Coinbase is ramping up its legal fight, urging Judge Katherine Polk Failla to reconsider its request for an interim appeal, using the SEC’s Ripple case
Coinbase is ramping up its legal fight, urging a judge to reconsider its request for an interim appeal, using the SEC’s Ripple case as a prime example of why judicial clarity is urgently needed.
The cryptocurrency exchange is arguing that the ongoing confusion over the Howey Test—a key standard for determining securities—must be resolved by a higher court.
Coinbase pointed out the SEC's appeal in the Ripple case, highlighting the muddled interpretation of the Howey Test when it comes to secondary market transactions of digital assets.
Coinbase's legal team stressed that the division among lawmakers, regulators, and courts over digital asset regulation makes it clear that action is needed now.
Back in April, Coinbase filed a preliminary appeal with the Second Circuit Court of Appeals, seeking clarification on how the Howey Test applies to digital assets.
Legal experts, such as James Murphy, argue that the SEC's ongoing Ripple appeal could give Coinbase's case the momentum it needs.
A ruling on the company's request is still pending. As the Ripple appeal unfolds, Coinbase is doubling down on its legal strategy.
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