Cardano

Solana

Wednesday

Polygon

Coinbase (NASDAQ: COIN), the US’s largest <a href="https://news.todayq.com/binance-thailand-crypto-exchange-opens-amid-india-exit/" target="_blank" rel="noreferrer noopener">crypto exchang</a>e, is dealing with increased legal complications imposed by the Securities and Exchange Commission (SEC). However, the crypto exchange is set to confront the SEC on Wednesday in a high-stakes hearing. The crucial hearing comes in after the commission filed the lawsuit against Coinbase. Coinbase Vs SEC to decide fate major cryptos 
It is expected that the case hearing will address several questions that could possibly reshape the regulatory landscape and trigger bull run sentiments in the market. 
<a href="https://news.todayq.com/coinbase-crypto-stocks-soar-after-sec-greenlights-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">Coinbase’s Chief Legal Officer</a>, Paul Grewal in a post depicted the platform’s readiness for the SEC hearing. According to reports, Coinbase is expected to argue that the tokens traded on its platform do not qualify as securities. The lawyers might highlight the crypto’s distinct nature from traditional financial instruments like stocks or bonds. However, this argument will challenge the SEC’s jurisdiction over these crypto assets. 
One of the major debates will be around whether Ethereum (ETH) will be classified as a security. The SEC in its complaint had claimed that Coinbase offered 13 unregistered securities. A judge’s order will decide the fate of various altcoins, including Ethereum. The outcome could set a precedent for the regulatory treatment of other cryptocurrencies. 
It is important to note that the arguments presented by both parties might lead to a direct conclusion or provide insights into the legal strategies. 
Several altcoins, including Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Sandbox (SAND) and more tokens are mentioned in the lawsuit. The hearing is expected to shed light on whether these coins will be officially deemed securities or not, influencing their market standing. What’s next? 
As reported, Coinbase is challenging the SEC’s claims by arguing that the regulatory body is overreaching. It includes the assets listed on its platform that do not fall under the securities category. The crypto exchange’s argument here directly aligns with a broader sentiment within the crypto industry. However, it is backed by the expectation to establish a distinction between digital assets and traditional securities. 
The SEC’s lawsuit, initiated in June, alleges that Coinbase facilitated trading of 13 crypto tokens without proper registration, operating unlawfully as a national securities exchange. The case also targets Coinbase’s staking program, asserting that it should have been registered with the agency. 
The outcome of this hearing is eagerly anticipated, as it could shape the regulatory framework for cryptocurrencies, clarifying the SEC’s authority and influencing the treatment of digital assets in the broader financial landscape. 
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All eyes on Solana, Cardano, Ether as Coinbase braces for SEC Battle

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