Coinbase Battles SEC in Court Over Crypto Regulation
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Coinbase defended its crypto trading/staking business model in court against an SEC lawsuit alleging it operates illegally without SEC registration.
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Key issue is whether crypto assets are securities overseen by the SEC under existing laws like the Howey test. Crypto advocates argue Howey does not apply.
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Case outcome could significantly impact crypto industry regulation and operations in the U.S.
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Judge questioned both sides, showing some skepticism of SEC's broad application of securities laws to crypto.
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No ruling yet; judge asked for more time to consider complex arguments around applying securities laws to the crypto industry.