Coinbase Suit May Finally Send Crypto Debate to US Supreme Court
The US Supreme Court in Washington, DC.
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
The SEC’s new lawsuit against Coinbase Global Inc. appears best positioned among cryptocurrency cases to let the US Supreme Court finally decide if digital assets count as securities.
The crypto tokens traded by Coinbase users should be treated as unregistered securities, the US Securities and Exchange Commission said in the suit filed June 6 in federal court in New York. The importance of that issue, combined with the case’s big actors and relatively clear-cut facts, makes it more likely to reach the nation’s high court than similar lawsuits against peers like Binance Holdings Ltd. and Ripple Labs Inc.