As you may already know, the SEC has been going after cryptocurrencies and cryptocurrency exchanges recently. 

Last week, there was big news when Ripple XRP was deemed a commodity in terms of being sold on a cryptocurrency exchange. This will be good news in the long run for ADA and other cryptocurrencies the SEC deemed as securities last month.

Now, in the case between the SEC and Coinbase, there was more good news on the legal front. The judge in the case questioned the SEC on how it could have allowed Coinbase to go public yet later is challenging whether it is operating legally. Here is an article that outlines this news: https://www.yahoo.com/finance/news/judge-coinbase-case-expresses-skepticism-202619359.html

Sometimes when I read what the SEC is doing, I wonder what they have to be thinking to make these moves. Seriously, there argument seems to be that an approval by the SEC does not mean they approved them to do what they applied to do! WHAT? Read the article, the SEC stated the approval, called an S-1 did not mean they approved them. the judge Falia was skeptical and stated “It's not crazy in the Faila parlance for Coinbase to think that what they were doing was okay because it was exactly what you let them do when they issued the S-1" referring to the SEC approving the S-1.

You can't make this up!!

Also, your your information the "Major Questions Doctrine" and the Howey test was also discussed in the initial briefing or hearing. Look at a previous post of mine here: https://www.publish0x.com/twodogscaged/is-the-major-questions-doctrine-what-cryptocurrency-needs-xnnokdz regarding the Major Questions Doctrine. I wrote that I thought that would be a positive for cryptocurrency and will help cryptocurrency fight the SEC overreach. Again, I can't believe the people running the SEC are still around after so much failure and overreach.

Now, to be fair, this case is not settled and the fact that the judge was questioning the SEC does not mean Coinbase will win. What I do believe will happen is that Coinbase wins based on the S-1, Major Questions Doctrine, and the Howey test aided by the XRP commodity ruling when beign sold on a cryptocurrency exchange.

Thanks for reading my posts. I am enjoying learning and sharing.