Coinbase files preliminary appeal asking court to rule cryptocurrency trading is not a security

Odaily News Coinbase has filed a temporary appeal, asking the U.S. Court of Appeals for the Second Circuit to rule that cryptocurrency transactions on its platform do not constitute securities transactions. Coinbase believes that crypto assets are different from stocks and should not be regulated by the U.S. SEC.
The company's application filed on Monday with the U.S. Court of Appeals for the Second Circuit stated: "There is no more pressing issue in securities law today than the scope of the SEC's authority to regulate secondary trading of digital assets." Coinbase said the Second Circuit's ruling could dispel the cloud currently hanging over the cryptocurrency market. (Bloomberglaw)