- The SEC argues that Coinbase (NASDAQ:COIN) has created a deviated form of the original Howey Test, which Coinbase denies.
- Judge Failla remains unsatisfied with the SEC’s statements and demands a clearer definition of securities.
- Lawyer Bill Morgan sees this development as a green signal towards the United States’ classification of cryptocurrencies as non-securities.
The legal brawl between the SEC and crypto exchanges took a new turn in a recent hearing where United States Judge Katherine Polk Failla cross-examined the regulator. The judge remains unsatisfied with the SEC’s statements against Coinbase, and XRP advocate Bill Morgan believes this is a sign that cryptocurrencies will eventually be acknowledged as non-securities in the U.S.
One thing is clear. It is now common ground the tokens themselves are not securities. After the SEC v Ripple summary judgment it was said that Judge Torres finding that #XRP itself is not a security is only obiter. But it seems it has already had a far reaching effect including… https://t.co/dMWeAvXlYF— bill morgan (@Belisarius2020) January 18, 2024
During the hearing, Judge Failla demanded that the SEC provide clearer definiti…
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