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<p>Welcome to HODL.FM, where we unwrap crypto insights faster than Dudley with his birthday gifts.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6ea42c006495435f9ea4c7fa34a2f202.gif" /></p><p>Here is what we made for you:</p><ul><li>Big Win. Wallets are not brokers, U.S. Court rules.</li><li>Coinbase is a broker and clearing agency, judge admits.</li><li>SEC to proceed with Coinbase Legal Case.</li></ul><h2 id="header-0">The Illusion of Performance</h2><p>Everyone loves a good suspense, especially one to do with bank robberies, supernatural stuff, and for most of us, <strong>a courtroom drama.</strong></p><p><strong>Suits. Htgawm. Marshal. Name them.</strong></p><p>Nothing has more thrill than watching prosecutors bring the bad guys to justice. A random guy on Quora <a href="https://qr.ae/ps2F2L" rel="noopener noreferrer nofollow">said the drama on TV is nothing</a> like it in a real-world court setting. There are no attorneys, even as good as Harvey Spector to handle 36 cases in a day and go out for drinks/dinners. It’s the illusion of performance to think the good guys always win, or litigations involving multi-billion companies can be resolved in a day.</p><p>So when Judge Katherine Polk Failla refused to dismiss the <a href="https://www.sec.gov/news/press-release/2023-102" rel="noopener noreferrer nofollow">SEC’s allegations against Coinbase</a>, crypto proponents around the world knew the two entities&#39; extensive history of legal battles would continue beyond March 2024.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/2cc34a0a8a084c2f86ea83f23c593fbf.gif" />Source: <a href="https://tenor.com/en-GB/view/im-not-backing-off-anything-mad-angry-punch-fight-gif-15175220" rel="noopener noreferrer nofollow">Tenor.com</a></p><p>Only that this time, the SEC was also going to play defense at some point after Coinbase recently filed legal action against the commission for refusing to demonstrate its authority over the cryptocurrency <a href="https://www.reuters.com/technology/coinbase-must-face-us-securities-regulators-lawsuit-2024-03-27/#:~:text&#61;The%20SEC%20sued%20Coinbase%20in,without%20registering%20with%20the%20regulator." rel="noopener noreferrer nofollow">industry by establishing regulations</a>.</p><p>But for now, let’s talk about the Wins. Do you have your juice?</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8a0d871fc8b140f983654b4d224b45bb.gif" />Source: <a href="https://tenor.com/en-GB/view/tastes-like-victory-victory-success-coffee-gif-4512955" rel="noopener noreferrer nofollow">Tenor.com</a></p><h2 id="header-1">Coinbase Wallet is not a Broker</h2><p>The crypto community is celebrating after a recent ruling by Judge Faill dismissed the SEC’s allegations against Coinbase Wallet. As per the judge, the commission did not provide any substantial proof about the exchange conducting brokerage services via its non-custodial wallet. As a result of the win, many believe it will set the stage for future cases against Decentralized Finance wallets which face similar accusations.</p><h2 id="header-2">READ MORE ON <a href="https://hodl.fm/insights-sec-coinbase-case" rel="noopener noreferrer nofollow">HODL.FM</a></h2>

Coinbase Wallet Secures Big Win Against the SEC, but the Lawsuit Proceeds

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