Coinbase Seeks to Take Core Question in U.S. SEC Case to Higher Court

Coinbase is seeking to rip the bandage off of a legal impasse at the center of the crypto industry’s fight with the U.S. Securities and Exchange Commission (SEC), filing for an interim appeal on Friday that would ask a higher federal court to drill into the heart of the regulator’s stance on digital assets, even as the broader SEC case proceeds through the judicial system.

The U.S. exchange filed for what’s known as an interlocutory appeal that raises a narrow point of legal disagreement and seeks to get it considered on its own, in this case by the U.S. Court of Appeals for the Second Circuit. Recently, a federal judge had denied Coinbase’s effort to get the SEC case against the company thrown out before trial, and now Coinbase is formally asking the court to weigh whether the SEC can treat a digital asset transaction as an investment contract if it’s not connected to any legal obligation from the asset’s original issuer.

Source: Coinbase Seeks to Take Core Question in U.S. SEC Case to Higher Court