FOX reporter: SEC's response to Coinbase's appeal request this week will reveal its stance on such securities law disputes

Odaily Planet Daily News: FOX Business reporter Eleanor Terrett wrote on X that "compared to other cryptocurrency companies currently handling lawsuits, Coinbase's situation is quite unique. Last month, their lawsuit was officially 'suspended' when Judge Failed allowed the company to file a temporary appeal to resolve whether existing securities laws apply to digital assets traded on the Coinbase platform in the Second Circuit Court. Friday (2/14) is the final deadline for the SEC to respond to Coinbase's appeal request. It will be interesting to see how the SEC responds under the new regulatory approach. They can: 1. Oppose Coinbase's appeal request, which means that the SEC, led by Acting Chairman Mark Uyeda, still plans to argue like Gensler that securities laws clearly apply to most cryptocurrencies. Uyeda and Peirce both stated that the laws in this field are not yet clear. 2. Not opposing Coinbase's appeal request indicates that the SEC wants to address the issue of how securities laws apply to cryptocurrencies. However, according to Hester Peirce stated that this is an issue currently being addressed by the cryptocurrency working group. 3. Request an extension of the deadline. 4. Decided not to continue and abandon this case. In short, the SEC's response to Coinbase this week will reveal how the agency plans to handle ongoing securities law disputes