U.S. Court Deems Crypto Trading on Coinbase a Securities Transaction in Insider Trading Case
• U.S. court ruled trading certain crypto assets on Coinbase are securities transactions in default judgment against Sameer Ramani • Critical position taken in insider trading case involving Coinbase's former product manager Ishan Wahi • SEC has settled charges with Ishan & Nikhil Wahi; action against Ramani expected • Ruling assumes significance as crypto industry argues cryptos not securities, don't fall under SEC • Not the first time U.S. court has ruled on whether crypto sales are unregistered securities