Coinbase vs. SEC - positive news for crypto
Coinbase’s legal battle with the U.S. SEC also made headlines this week. Coinbase seeks a dismissal of the SEC’s case, with a hearing scheduled for Jan. 17. In a report on Jan. 16, the Wall Street Journal asserted that its request for a dismissal might not be granted.
During the hearing, Judge Katherine Polk Failla, who presided over the case, criticized the SEC’s usage of the Securities Act of 1933 – a 90-year-old legislation – for the regulation of nascent technologies such as crypto and Bitcoin.
Shortly after the hearing, Elliott Stein, a prominent litigation analyst, argued that the judge is likely to grant Coinbase’s request to dismiss the case. Recall that the SEC’s lawsuit alleges that Coinbase offered unregistered securities on its exchange platform.
If the case is dismissed it will have a huge impact on prices of coins that have been classified as securities by the SEC.
The coins that would go up in price would mainly be: BNB, Solana, Cardano, XRP etc
Follow me for all the latest news