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 <h2 id="strong-reactions-to-amicus-briefs-supporting-coinbase-strong"><strong>Reactions to Amicus Briefs Supporting Coinbase</strong></h2> 
 <p><span style="font-weight: 400">Surprisingly, <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> Exchange has garnered a lot of support from industry giants and scholars in the legal profession who have filed an Amicus submission on its behalf.&nbsp;</span></p>  
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 <p><span style="font-weight: 400">Besides </span><span style="font-weight: 400">Senator Cynthia Lummis</span><span style="font-weight: 400">, industry giants including Andreessen Horowitz (a16z) and Paradigm as well as six law professors from Yale, the University of Chicago, the University of California Los Angeles, Fordham, Boston University, and Widener University have all shown their support.</span></p> 
 <p><span style="font-weight: 400">While the arguments presented by these Amicus Curiae have done good justice to weakening the <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>’s <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>urities claims, experts like Schwartz have also pointed out some flaws in the argument. One of the flaws noted relates to the poor <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of the holding in Joiner.</span></p> 
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  <p><span style="font-weight: 400">“I think the weakest point in that brief is that they don’t do a good job of addressing the holding in Joiner. But at most, Joiner says that if a reasonable buyer could have thought that they had enforceable, contractual rights, that can be sufficient,” Schwartz said in his tweet to the conversation initiated by MetaLawMan.</span></p>  
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 <p><span style="font-weight: 400">The Joiner being referred to is the first Supreme Court case that properly interpreted the definition of an investment contract.</span></p> 
 <h2 id="strong-the-odds-for-coinbase-strong"><strong>The Odds for Coinbase</strong></h2> 
 <p><span style="font-weight: 400">Different legal experts have weighed in on how the US <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> has no case against <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a>. Infact, the fact that the <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>’s claims that the trading platform is considered weak accounts for one of the reasons why the XRP holder’s lawyer chose not to file his own Amicus Brief in the <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> vs <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> case.</span></p> 
 <p><span style="font-weight: 400">Most people believe the trading of digital currencies on secondary platforms is not securities, a claim that was drawn from the </span><span style="font-weight: 400">XRP ruling</span><span style="font-weight: 400"> from Judge Analisa Torres. The odds appear to be in Coinbase’s favor and observers believe the trading exchange might win the case against the regulator.</span></p> 
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Coinbase Vs SEC: Ripple CTO Shares Take on Coinbase Brief

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