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Coinbase achieved a significant legal victory as a U.S. District Court granted its motion for an interlocutory appeal against the SEC, halting the lawsuit while the case is reviewed by the Second Circuit. This decision aims to clarify whether digital asset transactions are subject to securities laws, a point of contention also seen in the Ripple case. The crypto community, including legal experts and industry leaders, celebrated the ruling as a pivotal moment for the ecosystem.
A federal judge has paused the SEC's lawsuit against Coinbase, citing conflicting rulings on crypto legality across various courts. Judge Katherine Failla acknowledged the complexity of applying existing securities laws to digital assets, allowing Coinbase to pursue an interlocutory appeal. This decision could significantly impact the SEC's authority over crypto, as the Second Circuit may provide much-needed legal clarity on the issue.
In a discussion with Amanda Tuminelli, chief legal officer of the DeFi Education Fund, the implications of U.S. money transmission laws on crypto developers are examined, particularly in light of cases like Tornado Cash. Tuminelli highlights the risks associated with Section 1960, emphasizing the critical nature of custody and control, while noting that varying legal interpretations are fostering uncertainty in the crypto innovation landscape.
Amanda Tuminelli
People
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Coinbase wins key legal battle against SEC as appeal process begins
Coinbase Global, Inc.
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USA
Jeremy Hogan
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Amanda Tuminelli
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00:02 08.01.2025
judge pauses sec lawsuit against coinbase amid conflicting crypto rulings
Coinbase Global, Inc.
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22:23 07.01.2025
money transmission laws and their impact on crypto development risks
22:24 20.12.2024
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