A federal judge has granted Coinbase an interlocutory appeal in its lawsuit with the SEC, allowing the case to be paused until the Second Circuit clarifies whether an investment contract necessitates an actual contract. This decision is seen as a significant development in the legal landscape of cryptocurrency, as conflicting court rulings have emerged on this issue. Coinbase’s Chief Legal Officer expressed appreciation for the court’s decision, while the SEC has not commented on the matter. The SEC’s lawsuit accuses Coinbase of operating an unregistered securities exchange, and the agency has faced criticism for its enforcement approach under Chair Gary Gensler, who is set to leave office soon.
about Coinbase Wins Stay in SEC Lawsuit Pending Second Circuit Ruling