As the legal battle unfolds between the United States Securities and Exchange Commission (SEC) and US-based crypto exchange Coinbase, the presiding Judge Katherine Polk Failla has shown skepticism towards the SEC’s position and motives in pursuing the case.
This development has tilted the scales in favor of Coinbase, as the judge demonstrated a keen interest and indicated a potential inclination towards the exchange’s arguments.
Coinbase’s Defense Gains Momentum
The SEC filed a lawsuit against Coinbase in June, alleging that the exchange facilitated trading of crypto tokens that should have been registered as securities.
Specifically, the SEC accused Coinbase of operating as an unregistered national securities exchange, broker, and clearing agency.
The regulatory body took particular aim at the exchange’s “staking” program, which enables users to pool assets and earn rewards by verifying activity on blockchain networks. However, Judge Failla’s evident skepticism has
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