"SEC Victorious: Coinbase to Face Lawsuit Over Unregistered Securities"

A judge has ruled that the SEC's lawsuit against Coinbase for offering unregistered securities can proceed, stating that Coinbase operates as an exchange, broker, and clearing agency under federal securities laws. The judge rejected arguments from the crypto community that existing laws are inadequate, emphasizing that the challenged transactions fall within the framework used to identify securities for nearly eighty years. However, the SEC's claims against Coinbase's Wallet were dismissed. Coinbase's chief legal officer expressed determination to seek clarity despite the denial of early motions against the government agency.