A Bloomberg expert believes that Coinbase, a major cryptocurrency exchange, has a high chance of successfully resolving its legal dispute with the U.S. Securities and Exchange Commission (SEC).
On January 17, 2024, the first hearing took place in the civil lawsuit filed by the SEC against the crypto company Coinbase. The regulator accuses Coinbase of unlawful brokerage, dealer, and clearing activities.
Representatives of the exchange claim that their tokens are not securities or investment contracts. Furthermore, they stated that the SEC has not provided any evidence in support of its allegations.
Senior legal analyst Elliot Stein was present at the court hearing, and after hearing arguments from both sides, he concluded that Coinbase has a 70% chance of winning this case.
This outcome was unexpected, as many initially expected a similar legal battle as in the case of Ripple and the SEC. However, the analyst concluded that the most likely scenario in this case is the rejection of the SEC's claims. Stein believes that the company's arguments have substantial legal basis, and the court is likely to not support the SEC's arguments.
Earlier, several experts discussed four possible scenarios for the Coinbase case and expressed doubts about its swift resolution.
