Posted 1/17/2024, 9:38:00 PM
Judge Weighs Dismissal of SEC Case Against Coinbase Over Crypto Token Transactions
- Judge deciding if SEC case against Coinbase for unregistered securities should be dismissed based on if crypto token transactions are securities
- SEC argues each trade is investor buying into token ecosystem hoping to profit, at least one trade makes it a security
- Coinbase says secondary trades don't have a contract so can't be securities under Howey test
- Judge challenged both sides over 4+ hours but didn't reveal which way she'll rule
- Her decision will impact other SEC cases against crypto exchanges like Binance and Kraken