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Coinbase Urges Judge Failla to Certify Appeal, Citing SEC's Ripple Case

Oct 5, 2024, 07:21 PM

Coinbase has requested Judge Failla to certify its interlocutory appeal, aiming to present its case to the Second Circuit Court of Appeals alongside Ripple. The move comes as the Securities and Exchange Commission (SEC) appeals the Ripple case, which Coinbase cites to highlight the ambiguity surrounding the Howey Test's application to secondary market sales of cryptocurrencies. Coinbase's original motion for an interlocutory appeal, filed in April, has not yet been ruled on—an unusual delay given that such motions are typically decided swiftly. The SEC's appeal in the Ripple case strengthens Coinbase's argument. Coinbase contends that hearing both cases together would provide the Second Circuit with a comprehensive view of the SEC's approach to cryptocurrency regulations.