As you know if you have been following my posts, this is an area of interest for me regarding cryptocurrency.

I think finding regulatory clarity is something that will benefit cryptocurrency as a whole. Many have written about the Ripple XRP decision and how it will affect the Coinbase case with the SEC and cryptocurrency in general.

Well, news broke today that indicated the initial court date between the SEC and Coinbase is set for August 4th, 2023. You can read more about it here:https://cointelegraph.com/news/coinbase-vs-sec-court-dates-confirmed

Apparently both the SEC and Coinbase had written to the court that both wanted to proceed with the hearings. The judge agreed to the request and set the initial date for opening briefings and a timeframe for documents to be submitted.

Look, in my estimation the faster the court comes to a judgement on this case the better. However, a delay tactic by either side may allow congress to get it's act together in order to help the SEC save face. Look, it is now precedent that selling cryptocurrencies on an exchange is identified as a commodity to the general public. That helps Coinbase, and to me it seals the win for Coinbase, Now the other part of the Ripple decision was in favor of the SEC.

To me the bigger issue in all of this has been the poor job the SEC has done in handling cryptocurrency. I mean, picking and choosing some of many is simply ludicrous to me, Ethereum a commodity and the likes of Cardano and Algorand for example identified as securities (silly at best).  I think the SEC will want to save face in the long run and I think this may drag out the case until congress sets all cryptocurrencies as commodities. There is too much information out there to deny this is the way cryptocurrency is trending in public and legal opinion, let alone in fact as well.