Judge: SEC's claims against Coinbase to move forward
Powered by @unfolded- Judge Katherine Polk Failla has ruled that the case between the Securities and Exchange Commission (SEC) and Coinbase will proceed, denying Coinbase's motion to dismiss the case.
- The judge stated that the SEC has "sufficiently pleaded" that Coinbase operated as an exchange, broker, and clearing agency, and engaged in the unregistered sale of securities through its staking program.
- However, the judge dismissed the SEC's claim that Coinbase acted as an unregistered broker when it made its Wallet application available to customers.
- The case will now proceed to trial and be presented to a jury, with the process expected to start in 2025.
https://www.theblock.co/post/285093/judge-secs-claims-against-coinbase-to-move-forward