After news of the Securities and Stock Exchange Committee (SEC) and Binance request to stop their legal battle, some believe that other encrypted cases will be the next. However, the unique Coinbase mode can shed some light on the new encoding approach to the organizational agency.
Coinbase to follow the SEC VS Binance steps?
In the wake of SEC and Binance’s joint movement to stay a lawsuit against the American organizer against global coding, the industry speculates that other encrypted cases, including Coinbase, will follow its example.
As Bitcoinist, the organizational agency and Binance recently requested a 60 -day stand in their legal battle, on the pretext that the new changes of the committee may affect the case. The joint movement states that the newly created encryption squad, led by Commissioner Hyster Peres, can “affect this issue and facilitate its potential solution.”
According to a journalist Fox Business Elizabeth Terret, the joint demand is the first request to stop the encryption litigation in court since Mark Uyeda has become the president of the prosecution on January 10, and this may lead to cases other than fraud, such as Ripple, Coinbase, and Kaken to do the same.
However, his terret has I mentioned Compared to other encryption companies, Coinbase is in a “unique position”, where the legal battle for encryption was stopped last month. The journalist pointed out that the stock market is awaiting the response of the Securities and Stock Exchange Committee to resume its category of encryption trade.
FOX Business journalist weighs in on SEC vs Coinbase case. Source: Eleanor Terret on X
The US monitoring filed a lawsuit to exchange encryption in 2023, claiming that Coinbase was working as an unregistered medium and selling illegal securities through Stokeing.
On January 7, the New York Federal Judge Catherine gave “rare” “rare” “environment”, based on the “conflicting decision” of previous encryption cases and the need for clarity on how to apply the Howwey test to encryption assets.
Coinbase introduces the competition for SEC claims in the Court of Appeal in the second circle. On January 21, 2025, the stock exchange submitted a petition for an appeal permission.
In the petition, Coinbase asked the US Court of Appeal to exclude that encryption deals are not papers, on the pretext that millions of users, companies and organizers “strongly need clarity over what the federal securities laws require.”
The Stock Exchange stated that there was no more urgent issue in the Securities Law from the “SEC power scope to regulate secondary deals for digital assets” and that the issue of encryption was “an idea vehicle” to address this issue and provide clarity.
The encryption industry is awaiting the deadline for Valentine’s Day
The deadline for responding to Coinbase to submit the appeal ends on Friday, February 14th. The agency’s response can shed light on the way it will deal with the American Agency in encrypted cases under the new representative president and the new organizational approach.
According to Terret, SEC can oppose the appeal request, indicating that SEC is still planning to uproot that securities laws apply to most of the distinctive codes of encryption as did former President Gary Ginsner. The journalist pointed out that Uida and Perus stated that the law in this field was not clear.
The organizational agency cannot oppose the appeal request, indicating that the Supreme Education Council “wants to resolve the issue of how to apply securities laws to encryption.” According to Commissioner Peres, this case is dealt with by the encryption band.
Finally, SEC can request the extension of the deadline or decide not to follow up and drop the case. Teret concluded that the committee’s response to Coinbase “will reveal a lot in terms of how the agency plans to deal with the continuous litigation of issues that ignore the stock law.”
Bitcoin's performance in the one-week chart. Source: BTCUSDT on TradingView
Distinctive photo of Unsplash.com, Chart from Tradingview.com
