Coinbase Agrees to Postpone Appeal Case Review, Speculation Mounts That Case May Be Nearing Resolution

BlockBeats News, February 16th, according to Cryptonews report, the U.S. Securities and Exchange Commission (SEC) previously requested to extend the response deadline for the Coinbase appeal from February 14th to March 14th, and Coinbase has agreed to this extension request.

The case dates back to June 2023, when the SEC accused Coinbase of offering unregistered securities and failing to fulfill disclosure obligations. Coinbase argues that the crypto trading on its platform does not constitute securities and seeks clarification on whether secondary market trading meets the investment contract definition in securities laws. Previously, Judge Katherine Failla approved Coinbase's mid-appeal request and suspended all litigation proceedings in the case until the Second Circuit Court reviews the appeal. It is worth noting that the SEC's recently established crypto workgroup is led by Commissioner Hester Peirce, known for her support of crypto, sparking speculation that a resolution to the long-running litigation may be nearing.