Coinbase attorneys are urging the Southern District of New York to reconsider an appeal filed in April 2024, citing the SEC's recent notice of appeal in the Ripple case.

- In a letter dated Oct. 5, the attorneys argue that the SEC's appeal confirms the ambiguity of the Howey Test.

- The attorneys highlight the "industry significance" of applying the Howey Test to digital assets.

- Attorney James Murphy noted that the delay in Coinbase's appeal is unusual.

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