Coinbase is asking the judge to allow it to file a partial appeal of the SEC case immediately, rather than waiting until the case is fully concluded. ✨
🔗 Reasons for early appeal?
Coinbase cited the legal battle between the SEC and Ripple, as the SEC had also appealed a previous decision. Coinbase argued that the SEC's appeal highlighted the lack of clarity in applying the Howey Test (a legal tool for determining whether an asset is a security) to digital assets. 🕵️♂️
📊 The importance of Howey Test
The Howey Test is a legal standard for deciding whether digital assets can be considered securities, which directly affects how the SEC regulates these assets. Coinbase argues that the current lack of clarity requires intervention and clarification from a higher court. 🤔
📢 Why is appeal important?
Coinbase hopes that the court will consider the appeal before the case is concluded, thereby helping to clarify regulations for digital asset trading, and at the same time increase transparency for the entire industry. 🌊
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