Coinbase Faces Uphill Battle in SEC Lawsuit After Key Court Loss

Judge rejects Coinbase's motion to dismiss SEC lawsuit, forcing case to move to discovery phase where Coinbase must argue facts around whether crypto assets are securities.

Decision means judge agrees with SEC's legal interpretation that assets appear to be securities, putting Coinbase at disadvantage in having to dispute facts.

Coinbase options include dragging out discovery process hoping for political change at SEC, appealing directly to Supreme Court, or seeking internal SEC documents showing division on crypto regulation.

If case proceeds, judge likely to issue summary judgment in favor of SEC based on facts presented.

Decision shows SEC poised to win legal battle in establishing oversight powers over crypto industry.