Coinbase’s legal victory against SEC’s allegations concerning its Wallet indicates a significant milestone for the DeFi industry.
The court’s decision may influence the way DeFi applications are regulated and perceived in the legal framework.
The unfolding legal saga of Coinbase, as predicted by a recent CNF post, took a significant turn when U.S. District Judge Katherine Failla denied Coinbase’s motion to dismiss the SEC lawsuit. This decision, informed by precedents like Ripple and Grayscale, casts a spotlight on Coinbase’s operations, particularly its unlicensed status and the offering of unregistered securities through its crypto staking program.
FOX journalist Eleanor Terrett reported on Twitter that Judge Failla allowed the SEC to proceed with its case against Coinbase. The allegations focus on Coinbase operating as an unregistered exchange, broker, clearing agency, and engaging in unregistered securities offerings through its Staking Program.
BREAKING: Judge Failla has

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