This is a follow-up to my post a few weeks ago. At that time the SEC was ordered by the court to respond to Coinbase's "rulemaking petition."

Well, the Third Circuit Court of Appeals has ruled that it will retain jurisdiction over Coinbase's challenge to the SEC inaction on the petition. Read more here: https://u.today/ripple-cto-declares-coinbases-victory-over-sec

The court compelled the SEC to provide them a timeline to respond to Coinbase's request. There will be an update provided to the court within 120 days.

I have to say, I love this. I am sick and tired of the government overreach. The SEC allowed Coinbase to operate in the beginning. Then, they stood by and did nothing and allowed FT and SBFraud to harm people while now going after Coinbase, a legal US company. Shame on them!

I wrote yesterday that the SEC battle with Coinbase that led to a 30% drop in the market (in my opinion) is a great buying opportunity. I have been writing for months now that regulation is going to be a boon for cryptocurrency in the long run. We have to outlast the incompetency of the Genslar's of the world.

I mean seriously, how can Cardano be a security and not Ethereum? What a joke!