Coinbase vs. SEC: Ripple’s win could change everything
The post Coinbase vs. SEC: Ripple’s win could change everything appeared on BitcoinEthereumNews.com.
Coinbase asked the Southern District of New York Judge Katherine Polk Failla to certify the interlocutory appeal it filed back in April. In an October 5th letter to the judge, Coinbase cited the SEC’s appeal in Ripple’s case, claiming that it signified the regulator’s recognition of the vagueness in the Howey Test standards. It also called for a thorough and complete review of the Howey Test application. If Judge Failla approves Coinbase’s appeal, then the resulting legal battle could ideally change everything for Ripple and even redefine future crypto regulatory frameworks. Coinbase wants to present its case in the second circuit with Ripple On October 5, Coinbase wrote a letter to Judge Polk Failla asking her to certify their interlocutory appeal. The exchange initially filed the appeal in April and has not received any approval or rejection over its filing. Some analysts even agreed that the court had taken a long time to respond. For instance, a crypto lawyer, James Murphy, said: It is astounding that Judge Failla never ruled on Coinbase’s original motion for interlocutory appeal filed back in April. Those motions are normally ruled on very quickly. James Murphy Coinbase requested that the court reconsider its appeal so the Second Circuit could accurately assess the SEC’s position on Howey Test criteria. It urged the court to certify its motion to give the Second Circuit a detailed understanding of the legal and practical impacts of the SEC’s litigating position. Ashley Prosper, a crypto influencer, noted that the Ripple and Coinbase cases would provide the Second Circuit with a thorough understanding of the regulator’s ‘unlawful’ approach to crypto, expressing confidence that Coinbase’s appeal would succeed. The exchange even referenced the SEC appeal in Ripple’s case filed on October 2, claiming it represented the regulator’s admission to Howey Test’s ambiguity. The…
Filed under: News - @ October 6, 2024 2:02 am