Coinbase files appeal on specific issues in SEC case
Coinbase is seeking an appeal on a specific issue in its case with the U.S. Securities and Exchange Commission (SEC), its long-running legal nemesis.
This lawsuit began in June 2023 and attracted much attention. In an appeal motion filed on April 12, the U.S. exchange sought to clarify constitutional legal issues over allegations that it operated as an "unregistered securities trading venue, broker-dealer, and clearing agency."
Overall, it appears Coinbase is pursuing another tactic to derail the SEC petition after the court denied the exchange’s motion to dismiss the allegations.
Coinbase, the largest U.S. cryptocurrency exchange with 73 million users, has been vocal about the need for a clear regulatory framework for cryptocurrencies while sharply criticizing the SEC’s ongoing crackdown on the digital asset industry.
Coinbase Files Appeal of Specific Issues
Typically, a legal appeal occurs after a trial has concluded or a lower court has issued a final decision, but in the case of a staged issue appeal, the parties appeal specific issues or decisions before the entire case is concluded.
In the SEC v. Coinbase case, the defendants are seeking a review of the meaning of investment contracts in cryptocurrency transactions.
Coinbase said the appeal met all legal requirements. First, the exchange claimed there was a "controlling legal issue," That is, whether an investment contract can be formed on the basis of a transaction without post-sale obligations.
Additionally, Coinbase highlighted “substantial grounds for disagreement” on the issue, specifically regarding the application of the Howey test to cryptocurrency trading. Finally, the US exchange said a review of the issue could offset the SEC's main allegations in both sides' court cases, necessitating an appeal of the case.
Next, the court will review the request for appeal on this particular issue and, upon certification, the controlling legal issues should be referred to the Court of Appeal for appropriate resolution or guidance.
Coinbase Chief Legal Officer's Appeal Crucial to U.S. Cryptocurrency Industry -
Commenting on Coinbase’s latest appeal motion, the exchange’s chief legal officer Paul Grewal said that issue-specific appeal motions are critical for the cryptocurrency industry, especially in the face of “unfair” enforcement by the SEC due to the lack of a legal regulatory framework. action.
Grewal said:
“We are asking for an earlier appeal than usual because it is critical to our industry. The SEC’s actions against us and other digital asset companies go far beyond the laws Congress granted us. This approach casts an unfair shadow on the innovation of digital assets in the United States.”
The cryptocurrency lawyer also expressed confidence in the sustainability and growth of digital assets, while reaffirming Coinbase’s commitment to developing clear operating rules and regulations for the U.S. cryptocurrency industry.
|Cryptocurrency total market capitalization on daily chart is $2.239 trillion
Source: Tradingview.com
Cryptoasset total market capitalization chart
The above is the detailed content of Coinbase files appeal on specific issues in SEC case. For more information, please follow other related articles on the PHP Chinese website!

The crypto market is back in the spotlight as tokens across categories rally on fresh macro optimism. Meme coins like Fartcoin are surging, posting triple-digit gains and overtaking long-standing projects like Floki and Dogwifhat.

Crypto doesn't stay quiet for long. One minute, it's all charts and chatter, and the next—it's making headlines again. April's been packed with action.

It’s 2025, and crypto isn’t some niche side gig anymore. It’s in major headlines, on trading floors, and at the center of real conversations about freedom, finance, and innovation.

The crypto market is always in motion, and the question on every trader's mind is what’s next?

The Dogecoin's price rally has heavily been driven by the rising Futures Open Interest (OI). In the past two weeks, Dogecoin's OI surged from around $1.3 billion

Dogecoin (DOGE) price gained 2 percent in the past 24 hours to trade around $0.1814

Despite a slight dip in the last 24 hours, the meme coin remains in a strong weekly uptrend, fueling optimism for a renewed push

A new first-of-its-kind law enacted in North Dakota could shield agrochemical manufacturer Bayer from lawsuits claiming it failed to warn customers

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool

SublimeText3 Chinese version
Chinese version, very easy to use

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

Atom editor mac version download
The most popular open source editor
