Coinbase's legal journey has entered a new chapter! 🎢 Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York recently approved Coinbase's interim appeal request, meaning the SEC's lawsuit against the cryptocurrency exchange is temporarily on hold. Interim appeals are typically rare, so this approval is particularly noteworthy.

The core of the case lies in the applicability of the Howey test to crypto assets, a question that has sparked widespread legal divergence. The judge believes that resolving this issue will help drive the final decision on SEC enforcement actions. Coinbase's Chief Policy Officer Faryar Shirzad welcomed this and viewed it as a blow to the uncertainty created by the SEC leadership. 🔍