SEC Court Should Reject Coinbase’s Intermediate Appeal

Last month, after a judge decided to allow the lawsuit involving the SEC and the platform to proceed without dismissal, Coinbase filed an intermediate appeal. In the appeal, Coinbase claimed to have disagreements with the Howey test. The Howey Test is a case from the US Supreme Court in 1946, which is frequently referenced by the SEC to determine whether an asset qualifies as an investment contract and thus qualifies as a security.