What a Judge Said About the SEC's Suit Against Coinbase
Summary
Coinbase and Custodia faced early court losses against the SEC. Judge Failla ruled against Coinbase, dismissing some SEC claims but leaving a substantial part intact. She rejected industry arguments about crypto meeting major questions doctrine standards and the need for a written contract for an "investment contract." The judge also found that some assets named by the SEC could be securities. The case will move into the discovery phase, with a deadline for a case management plan in April.
