American cryptocurrency exchange Coinbase Global Inc has once again scored a big win in its ongoing legal battle against the US Securities and Exchange Commission (SEC). In a recent update from CLO Paul Grewal, the court, presided over by Judge Catherine Polk Failla has granted its request for an interlocutory appeal. This case borders on the charges filed by the US SEC that Coinbase facilitated the trading of crypto asset securities.
The Coinbase Victory Against US SEC At a Glance
According to Judge Failla, the request for interlocutory appeal from Coinbase is now granted. This decision marks a major deviation from an earlier rejection of the exchange’s argument that assets on its platform do not constitute investment contract.
Following this order, the case will now proceed to the Second Circuit Court of Appeals with proceedings set for January. Meanwhile, the exchange scored another major win against the U.S FDIC recently. The FDIC suit hinges on request for documents based on the Freedom of Information Act (FOIA).
Following the discoveries, the exchange now have evidence that the FDIC tried to kill Bitcoin transactions in the United States.
This is a developing stor, please check back for updates!!!
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