In a pivotal moment for the cryptocurrency industry's legal landscape, the court overseeing the dispute between Coinbase and the U.S. Securities and Exchange Commission (SEC) has issued a significant ruling, with implications reverberating throughout the sector.
The court ruled against Coinbase, affirming the SEC's claims that the platform functioned as an exchange, broker, and clearing agency. However, the court also partially sided with Coinbase concerning certain SEC claims related to its wallet system, allowing the case to proceed, marking a critical juncture in the ongoing legal confrontation.
The SEC alleged that Coinbase facilitated transactions in crypto-asset securities without proper registration, violating several provisions of the Exchange Act. The court denied Coinbase's motion to dismiss these claims, supporting the SEC's assertions that the platform acted as a marketplace for crypto-asset securities and as a custodian through its wallet system.
Furthermore, the court held Coinbase's parent company, CGI, potentially liable as a control person under the Exchange Act, rejecting Coinbase's motion to dismiss this claim.
The court agreed with the SEC's argument that Coinbase's Staking Program constituted an investment contract subject to registration under the Securities Act. However, it granted Coinbase's motion concerning claims related to its Wallet application, finding insufficient evidence to support allegations of unregistered brokerage activity.
Both parties are directed to submit a proposed case management plan by April 19, 2024.
Edward Snowden commented on the potential implications, suggesting that continued bad faith actions by the SEC could lead to unfavorable outcomes in court, drawing parallels to previous incidents involving Bitcoin ETF approvals.
The daily chart shows COIN stock’s drop following the court’s ruling. Source:COIN on TradingView.com
Kraken is challenging the SEC's case, arguing that none of the assets involved qualify as 'investment contracts'. This legal battle highlights the need for clearer regulatory frameworks in the cryptocurrency industry.
Anais加密货币到底是不是证券产品？旷日持久的美国加密货币监管法律大战仍在进行。
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JinseFinanceCoinbase's latest addition of Bonk to its listing roadmap has influenced a surge in the Memecoin's price. However, caution is advised, as inclusion in the roadmap doesn't guarantee listing, and Bonk's market performance is subject to the volatile nature of the crypto market.
Xu LinSEC AS mengirimkan surat pengadilan sebagai tanggapan atas upaya Coinbase yang terus menerus untuk membatalkan gugatan yang diajukan terhadapnya, menuduh beberapa pelanggaran hukum sekuritas oleh pertukaran crypto.
KikyoSelain itu, Konsorsium Pusat yang dioperasikan bersama akan ditutup.
ClementKorban kehilangan $96.000 ketika kredensial Coinbase-nya diubah. Ini bukan pertama kalinya perusahaan menolak untuk memberikan kompensasi.
Beincrypto
Coinlive Coinbase, bursa crypto terbesar kedua, baru-baru ini meluncurkan testnet untuk produk terbaru mereka "Base", sebuah jaringan Ethereum layer 2 (L2).
BitcoinistSaham Coinbase melonjak lebih dari 26% Kamis setelah seorang hakim federal di New York menolak gugatan class action terhadap perusahaan yang berbasis di San Francisco itu.
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