{"id":44822,"date":"2025-01-07T23:35:08","date_gmt":"2025-01-07T23:35:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-court-grants-coinbase-interlocutory-appeal-in-case-against-the-sec\/"},"modified":"2025-01-07T23:35:08","modified_gmt":"2025-01-07T23:35:08","slug":"us-court-grants-coinbase-interlocutory-appeal-in-case-against-the-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-court-grants-coinbase-interlocutory-appeal-in-case-against-the-sec\/","title":{"rendered":"US court grants Coinbase interlocutory appeal in case against the SEC"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/ftx-ryan-salame-imprisoned-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/ftx-ryan-salame-imprisoned-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/ftx-ryan-salame-imprisoned-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/ftx-ryan-salame-imprisoned-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">Coinbase can now seek guidance from the Second Circuit Court of Appeals to determine if the SEC\u2019s complaints against it are valid<\/li>\n<li aria-level=\"1\">The SEC first filed a complaint against Coinbase in 2023, arguing that it operated as an unregistered brokerage in violation of federal securities laws<\/li>\n<\/ul>\n<p>Coinbase has been granted an interlocutory appeal, temporarily pausing its ongoing court case against the US Securities and Exchange Commission (SEC).<\/p>\n<p>According to a <a href=\"https:\/\/assets.ctfassets.net\/sygt3q11s4a9\/4p9Lq2LQwHaTvZcZEcXVTK\/bf521831ffae3d7c871f0ba13de44bdc\/SEC_v._Coinbase__Opinion_and_Order_1.7.24.pdf\" target=\"_blank\" rel=\"noopener\">filing<\/a>, Judge Katherine Polk Failla of the Southern District of New York granted the crypto exchange\u2019s motion.<\/p>\n<p>Filing a <a href=\"https:\/\/coinjournal.net\/news\/the-sec-strikes-again-first-binance-now-coinbase\/\">complaint<\/a> on June 6, 2023, the SEC argued that Coinbase amounted \u201cto the operation of an unregistered brokerage, exchange, and clearing agency in violation of federal securities laws.\u201d<\/p>\n<p>This latest filing means <a href=\"https:\/\/coinjournal.net\/search\/Coinbase\">Coinbase<\/a> can now proceed to the Second Circuit Court of Appeals to receive guidance and to determine if the SEC\u2019s complaints against it are valid.<\/p>\n<p>Taking to <a href=\"https:\/\/x.com\/iampaulgrewal\/status\/1876699503329214566\" target=\"_blank\" rel=\"noopener\">X<\/a>, Paul Grewal, Coinbase\u2019s chief legal officer, wrote: \u201cOver the strenuous objection of<a href=\"https:\/\/x.com\/SECGov\" target=\"_blank\" rel=\"noopener\"> @SECGov<\/a>, Judge Failla has GRANTED our motion for leave to pursue an interlocutory appeal and STAYED the district court litigation. We appreciate the Court\u2019s careful consideration. On to the Second Circuit we go.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Over the strenuous objection of <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a>, Judge Failla has GRANTED our motion for leave to pursue an interlocutory appeal and STAYED the district court litigation.  We appreciate the Court&#8217;s careful consideration. On to the Second Circuit we go. <a href=\"https:\/\/t.co\/FuZ2jcYvfF\">pic.twitter.com\/FuZ2jcYvfF<\/a><\/p>\n<p>\u2014 paulgrewal.eth (@iampaulgrewal) <a href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/1876699503329214566?ref_src=twsrc%5Etfw\">January 7, 2025<\/a><\/p>\n<\/blockquote>\n<h2>The SEC vs. Coinbase<\/h2>\n<p>With this latest motion, it seems the back and forth between the two may finally be coming to an end.<\/p>\n<p>Following the 2023 SEC complaint, Coinbase filed its answer in late June <a href=\"https:\/\/coinjournal.net\/news\/coinbase-files-to-have-the-lawsuit-by-the-sec-dismissed-for-lack-of-merits\/\">seeking to dismiss the lawsuit for lack of merit<\/a>.<\/p>\n<p>In a 177-page report, Coinbase argued that the SEC\u2019s accusations were based on claims that 12 of the listed crypto tokens trading on the exchange were securities. However, when the SEC authorized Coinbase to go public, six of the 12 crypto assets were already trading.<\/p>\n<p>As a result, Coinbase claimed that the lawsuit should be dismissed because the agency didn\u2019t classify any of the crypto assets as securities.<\/p>\n<p>In December 2023, the SEC <a href=\"https:\/\/coinjournal.net\/news\/sec-denies-rulemaking-petition-filed-by-coinbase\/\">denied a rulemaking petition<\/a> by Coinbase. According to SEC Chair Gary Gensler, \u201cexisting laws and regulations apply to the crypto securities markets.\u201d However, SEC Commissioners Hester Peirce and Mark Uyeda said they \u201cdisagree with the Commission\u2019s decision.\u201d<\/p>\n<p>This was followed by a March report that Judge Failla <a href=\"https:\/\/coinjournal.net\/news\/judge-rules-sec-can-proceed-with-case-against-coinbase\/\">ruled that the SEC\u2019s case against Coinbase would move forward<\/a> on most of the claims against it, denying the exchange\u2019s motion to dismiss the case.<\/p>\n<p>In September, the SEC then <a href=\"https:\/\/coinjournal.net\/news\/sec-requests-for-more-time-to-produce-documents-in-coinbase-case\/\">filed a motion for an extension<\/a> from the court giving it more time to provide Coinbase with key documents. More recently, Coinbase pushed for court intervention to obtain SEC documents on <a href=\"https:\/\/coinjournal.net\/news\/coinbase-pushes-for-court-intervention-to-obtain-sec-documents-on-crypto-regulations\/\">how securities laws apply to cryptocurrencies<\/a>.<\/p>\n<p>Now, with the latest judge ruling, this is a \u201c<a href=\"https:\/\/x.com\/EleanorTerrett\/status\/1876707278830874957\" target=\"_blank\" rel=\"noopener\">big legal win<\/a>\u201d for Coinbase, according to Fox Business News reporter Eleanor Terrett.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/us-court-grants-coinbase-interlocutory-appeal-in-case-against-the-sec\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Coinbase can now seek guidance from the Second Circuit Court of Appeals to determine if the SEC\u2019s complaints against it are valid The SEC first filed a complaint against Coinbase in 2023, arguing that it operated as an unregistered brokerage in [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":44823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44822"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44822"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44823"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}