According to ChainCatcher, Paul Grewal, chief legal officer of Coinbase, said on X that Coinbase has submitted a motion to Judge Katherine Polk Failla seeking an appeal review of the case filed by the SEC against it.
“Liability should not depend on which court you are sued in or which judge is assigned to your case,” Grewal said. “Earlier today, we filed a notice with the SEC regarding Judge Jackson’s decision in the case against Binance. The decision definitively rejected the SEC’s claim that secondary market transactions of BNB tokens on the Binance exchange were investment contracts. Two district courts, analyzing economically identical transactions on two of the largest crypto trading platforms in the United States, reached diametrically opposed views on whether those transactions could constitute securities transactions. The result of the SEC’s litigation-centric approach to cryptocurrency regulation is that market participants now face different rules, not only in different courts in this district, but in different federal courts across the country.”
