Odaily News The U.S. Securities and Exchange Commission (SEC) previously requested that the deadline for responding to Coinbase's appeal be extended from February 14 to March 14, and Coinbase has agreed to the extension request.
The case dates back to June 2023, when the SEC accused Coinbase of offering unregistered securities and failing to fulfill its disclosure obligations. Coinbase argued that crypto transactions on its platform do not constitute securities and sought to clarify whether secondary market transactions meet the definition of investment contracts in securities law. Previously, Judge Katherine Failla had approved Coinbase's request for an interim appeal and suspended all proceedings in the case until the Second Circuit Court reviews the appeal. It is worth noting that the SEC's recently established crypto working group is led by Commissioner Hester Peirce, who is known for his support for crypto, sparking speculation that the long-running lawsuit may be coming to an end.