Coinbase-SEC Lawsuit Heads into Murky Waters After First Hearing
• Legal experts predict Coinbase has a 70% chance of winning dismissal of SEC lawsuit after first hearing • Judge questioned SEC's broad definition of "investment contract" that could encompass collectibles • Coinbase argued its crypto services don't meet Howey Test's definition of investment contract • Experts disagree on likelihood of outright dismissal, with full dismissal seen as unlikely • Case could reach Supreme Court and force re-examination of Howey Test’s applicability to crypto