🚨 Crypto exchange Coinbase has filed a petition in federal court to appeal the latest decision regarding investment contracts. In March, Judge Katherine Failla denied Coinbase's request to dismiss its lawsuit against the SEC. Coinbase thinks there is a legal issue as to whether digital assets should be considered investment contracts. However, the SEC classifies crypto transactions as investment contracts and regulates them. Coinbase and others argue that when digital assets begin trading on secondary markets, they should not be under the jurisdiction of the SEC.