Cryptocurrency exchange Coinbase achieved a minor win in its legal dispute with the US Securities and Exchange Commission as a federal judge approved an interlocutory appeal. Judge Katherine Failla granted the appeal for an order denying Coinbase's motion for judgment, pausing all proceedings until the Second Circuit rules on the appeal. The SEC's case against Coinbase focused on transactions involving crypto-assets as potential securities. Judge Failla acknowledged a chance of reversing her interpretation based on the Howey test, supporting Coinbase's appeal. The filing highlighted conflicting rulings in similar cases involving Terraform Labs and Ripple Labs, emphasizing the need for clarity from the Second Circuit. Coinbase, criticized for operating as an unregistered securities exchange, broker, and clearing agency, welcomed the court's decision. The exchange also advocated for transparency in government actions affecting crypto firms. Amid regulatory uncertainties, Coinbase and Ripple's significant contributions to pro-crypto political campaigns reflect the industry's efforts to influence policy decisions. Read more AI-generated news on: https://app.chaingpt.org/news

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