HERE IS THE SUMMARY OF WHOLE
COINBASE .VS SEC :
➡️ SEC LAWYER SAYS A TOKEN WITH A LARGE ECOSYSTEM MAKES IT A SECURITY
➡️ SEC LAWYER SAYS THAT CRYPTO IS INSIGNIFICANT PART OF THE ECONOMY
➡️ JUDGE SAYS THAT THE DEFI PEOPLE HAVE EXPLAINED THE STAKING TERM BETTER THAN THE SEC.
➡️ SEC LAWYER EXPLAINED THE RISKS WITH STAKING
FUN FACT: MOST OF THE RISKS ARE IN SAVINGS AND LOAN BANK TOO
➡️ JUDGE SAYS THAT THE 90 YEAR OLD HOWEY TEST SHOULDN'T BE APPLY TO CRYPTO CITING SENATOR LUMMINS STATEMENT
NOW COINBASE LAWYER
➡️ THE SEC FAILED TO PROVE WITU FACTS THAT ALL 13 TOKENS THEY HAVE NAMED ARE SECURITIES
➡️ JUDGE TELLS COINBASE LAWYER THAT THE CRYPTOS ARE NOT SECURITIES BUT TRADING THEM ON SECONDARY MARKET MAKE THEM SECURITIES
➡️ COINBASE LAWYER SAYS THAT WE WANT TO COMPLY BUT NOT WITH OLD LAWS WHICH DOESN'T BELONG HERE.
➡️ COINBASE LAWYER REFERS TO UNISWAP CASE CITING THAT TECHNOLOGY IS NOT RESPONSIBLE FOR 3RD PARTY ACTIVITY
INTERESTINGLY THE SAME JUDGE DISMISSED THE SEC CASE AGAINST UNISWAP
➡️ COINBASE LAWYER SAYS THAT THE SEC IS TRYING TO REGULATE THINGS THROUGH ENFORCEMENT ACTION