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Sujit Kumar
Jan 17, 2025
by Sujit Kumar

Coinbase Wins SEC Case, Binance Cites Ruling in Legal Battle

Coinbase Wins SEC Case

Table of contents

  1. Binance Cites Coinbase Case in Legal Defense
  2. Crypto Industry Anticipates Regulatory Shift
In a major win for the crypto industry, a three-judge panel in the Third Circuit ruled in favor of Coinbase (NASDAQ: COIN) against the U.S. Securities and Exchange Commission (SEC). The SEC had accused Coinbase of operating as an unregistered national securities exchange, broker, and clearing agency. However, Coinbase has consistently denied these claims, arguing that the SEC, under Chair Gary Gensler, has failed to provide clear regulatory guidelines for the crypto industry.

Binance Cites Coinbase Case in Legal Defense

The SEC has also sued Binance, alleging similar violations. Following Coinbase’s court victory, Binance has now filed a notice of supplemental authority, referencing the Coinbase ruling as Exhibit A in its own case.

Previously, Binance sought to dismiss the SEC’s case, arguing that digital assets do not violate the Howey Test, and that Congress has not provided clear guidance for crypto regulations. With the recent court decision ordering the SEC to clarify its stance on crypto, Binance aims to strengthen its legal position.

Crypto Industry Anticipates Regulatory Shift

With the Biden administration nearing its end, the crypto industry is optimistic about the upcoming Trump administration. Trump has appointed David Sacks as AI and Crypto Czar and Paul Atkins as the next SEC Chair, both seen as pro-crypto figures.

Experts predict that the new administration will push for executive orders supporting Bitcoin, ending debanking policies, and creating a strategic Bitcoin reserve. Early Bitcoin adopter Frank Chaparro commented on the "seismic shift" in government and regulatory tone, signaling potential relief for crypto firms.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Coinbase Wins SEC Case
Coinbase Wins SEC Case, Binance Cites Ruling in Legal Battle
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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