Experts expect Coinbase, the largest cryptocurrency exchange in the USA, to achieve victory in the case against the SEC.
US Securities and Exchange Commission (SEC), unregistered as a stock exchange sued Coinbase last year for allegedly operating Coinbase, on the other hand, opposed the SEC’s claims and requested the dismissal of the case.
Bloomberg Intelligence analyst Elliot Stein warns Coinbase against SEC 70% chance of winning waiting. Stein said:
“Our Thesis is that even if this request was not made, there is a 70% chance that Coinbase would subsequently beat the SEC. Even if the case is not dismissed, it will probably go to the Supreme Court, and we think Howey’s limits will be narrowed there.”
SEC, an entity security uses the Howey test to determine whether it counts.
Stein, who attended the hearing between Coinbase and the SEC, said after the hearing: “Coming out of the hearing, I thought Coinbase did a much better job than I expected.” said.
Stein on judge’s decision on Coinbase and SEC case in a few weeks waiting for the final decision.