Test

<ul class="wp-block-list">
 <li>Coinbase is asking for an interlocutory appeal, claiming there is confusion regarding where the Howey Test stands in secondary market crypto transactions.</li>  
 <li>The case that is currently ongoing against Ripple is affecting the decisions made by Coinbase as both of these cases involve the SEC interpretation of securities laws.</li>  
 <li>These cases enlighten the broader need of regulatory guidance for the respective industry in discussion.</li> 
</ul>  
<p>In the legal tussle with the U.S Securities and Exchange Commission (SEC), <a href="https://cryptonewsland.com/coinbases-legal-battle-with-sec-expert-forecasts-50-victory-odds/" target="_blank" rel="noopener noreferrer nofollow">Coinbase </a>has sought permission to appeal mid-case to the U.S Court of Appeals from the Judge Katherine Polk Failla. This request is prompted by the evolution of the Ripple case in which an interlocutory appeal by the<a href="https://cryptonewsland.com/coinbases-legal-battle-with-sec-expert-forecasts-50-victory-odds/" rel="noopener noreferrer nofollow"> SEC</a> regarding the application of the Howey test to secondary market transactions equally exists. Coinbase focuses on the fact that the status of the Howey Test for interpreting secondary market transactions in the digital assets market remains uncertain.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/EleanorTerrett/status/1842597429280977232
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</figure>  
<h2 class="wp-block-heading" id="h-ripple-s-impact-on-coinbase-s-case">Ripple's Impact on Coinbase's Case</h2>  
<p>The appeal now pending in the Second Circuit involves Ripple and thus occupies center stage at Coinbase’s supplication. The most recent is the SEC appeal of the<a href="https://cryptonewsland.com/sec-appeals-court-ruling-in-ripple-case-seeking/" target="_blank" rel="noopener noreferrer nofollow"> Ripple case</a>, which has questioned the role of the court in interpreting the Howey Test indicating more confusion as to how the US law of securities regulates the digital asset.&nbsp;</p>  
<p>The legal issue Kaiser has underlined is that whether or not the pre-suit exigent circumstance defense exists is still an open question that requires resolution from a higher court and where the determination of such issue is far from clear. To support the interlocutory appeal motion, Coinbase used SEC ‘s words recognising legal issues in Ripple as its argumentation.</p>  
<h2 class="wp-block-heading" id="h-the-sec-s-view-on-deals-in-the-secondary-market">The SEC's View on Deals in the Secondary Market</h2>  
<p>In its Ripple appeal, the SEC argues that the Howey Test should apply to transactions on secondary markets involving digital assets. Coinbase’s defense rests with the fact that more clarity from the higher courts is needed due to the SEC’s continued flip-flop on the issue. Ripple’s case has already had a significant impact on how regulators and courts examine some types of digital assets and now Coinbase wants to leverage the dust for an improved legal status.</p>  
<p>Coinbase’s request raises a fundamental issue of regulation on cryptocurrency deals. These cases have come at a time when there are already several high-profile cases involving crypto securities; consequently, there remains increased pressure to have better definitions on how current securities laws can be applied to digital assets.</p> 
<p>The post <a href="https://cryptonewsland.com/coinbase-seeks-appeal-over-secs-unclear-stance-on-secondary-market-sales/" rel="noopener noreferrer nofollow">Coinbase Seeks Appeal Over SEC’s Unclear Stance on Secondary Market Sales</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Coinbase Seeks Appeal Over SEC’s Unclear Stance on Secondary Market Sales

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