"Coinbase Appeals U.S. SEC Case to Higher Court"
Coinbase has filed for an interlocutory appeal in federal court to challenge a key legal point in its dispute with the U.S. SEC regarding whether a digital asset transaction not connected to the original issuer should be considered an investment contract. The appeal seeks to clarify the SEC's stance on digital assets and could potentially lead to a U.S. Supreme Court ruling. The SEC argues that most digital assets are securities, while Coinbase and others in the industry contend that once the asset hits secondary markets, it is beyond the SEC's jurisdiction. The outcome of this legal battle could significantly impact the U.S. crypto sector.
