This year, the SEC has a few legal cases to solve. This January, the Southern District of New York court granted Coinbase’s motion to certify for interlocutory appeal and denied the 2024 verdict. This certificate allows the Second Circuit to address Howey’s reach and application to digital assets. Precisely, in secondary market transactions.
This was not the case. The case appears from the SEC’s 2023 enforcement action, where it claimed that Coinbase is an unregistered national securities exchange, broker, and clearing agency. It argued with its concern for this company intermediating transactions in 13 digital assets. The court has denied Coinbase’s argument; therefore, it is waiting for a solution.
