The post Coinbase Bags Interlocutory Appeal Approval in SEC Lawsuit appeared on BitcoinEthereumNews.com.

Coinbase Global Inc., a prominent U.S.-based crypto exchange, achieved a significant legal victory in its ongoing dispute with the U.S. Securities and Exchange Commission (SEC). Chief Legal Officer Paul Grewal confirmed that Judge Catherine Polk Failla approved Coinbase’s request for an interlocutory appeal, marking a key development in the case. The legal battle centers on allegations by the SEC that Coinbase enabled trading in crypto assets deemed as securities. The recent decision allows the crypto exchange‘s case to proceed to the Second Circuit Court of Appeals, temporarily halting all proceedings in the current court. Revealing the update, Grewal wrote on X, “Over the strenuous objection of SEC, Judge Failla has GRANTED our motion for leave to pursue an interlocutory appeal and STAYED the district court litigation. We appreciate the Court’s careful consideration. On to the Second Circuit we go.” Court Revisits Howey Test Application in Coinbase SEC Lawsuit This appeal represents a turning point, as Judge Failla had previously ruled against Coinbase in a preliminary judgment issued on March 27, 2024. That earlier decision relied on the Howey Test, a legal standard for identifying investment contracts. The exchange challenged the interpretation, arguing that it was not applicable to the assets on its platform. Following objections from Coinbase, the court granted an extended discovery period to address these concerns. With the interlocutory appeal now approved, the case will advance to the appellate court in the coming weeks. Over the strenuous objection of @SECGov, Judge Failla has GRANTED our motion for leave to pursue an interlocutory appeal and STAYED the district court litigation. We appreciate the Court’s careful consideration. On to the Second Circuit we go. pic.twitter.com/FuZ2jcYvfF — paulgrewal.eth (@iampaulgrewal) January 7, 2025 Coinbase’s legal confrontations extend beyond the SEC. In a separate matter, the exchange recently prevailed in a case against…

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Filed under: News - @ January 7, 2025 9:23 pm