Summary
- Coinbase has reported filing an interlocutory appeal with the United States Court of Appeals for the Second Circuit regarding whether virtual assets constitute 'securities trading.'
- Coinbase stated that virtual assets fall outside the SEC's regulatory scope and do not constitute contracts between investors.
- On the 7th, Coinbase added that it had prepared for an interlocutory appeal during the lawsuit through a preliminary injunction.
According to Bloomberg on the 22nd (local time), Coinbase has filed an interlocutory appeal with the United States Court of Appeals for the Second Circuit regarding the issue of 'securities trading.'
Court documents indicate that Coinbase stated, "Virtual assets (cryptocurrencies) fall outside the regulatory scope of the U.S. Securities and Exchange Commission (SEC), unlike stocks," and "Investors trade anonymously, and their virtual asset transactions do not constitute contracts between investors."
They further explained, "Rather, it pertains to legitimate asset sales."
Previously, on the 7th (local time), Judge Katherine Polk Failla of the United States District Court for the Southern District of New York had granted Coinbase's motion for a preliminary injunction to file an interlocutory appeal in its lawsuit against the U.S. SEC.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
