The SEC and Coinbase met in a New York court to square off on whether the listing of Solana, Filecoin and others violated securities laws, with both parties failing to land any fatal blow.
Coinbase argued that Solana buyers have the same expectations as Bitcoin owners, yet SEC has exempted BTC; SEC argued that the Howey test is clear and the exchange is in breach.
Are Solana, Polygon, Filecoin and Cardano securities under US laws? This was the question at the heart of a court battle on Wednesday between the SEC and America’s largest crypto exchange, Coinbase. The two entities locked horns over whether the exchange had violated securities laws, but neither party landed any fatal blow on its opponent.
SEC sued Coinbase in June last year, accusing the exchange of operating an unregistered national securities exchange, broker, and clearing agency. On Wednesday, legal teams for both sides matched up at the Southern District of New York to present their cases. At the centre of the back and

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