Coinbase agrees to postpone the review of the appeal case, leading to speculation that the case may be close to resolution

On February 16th, according to Cryptonews, the US Securities and Exchange Commission (SEC) had previously requested an extension of the deadline for responding to Coinbase's appeal from February 14th to March 14th, and Coinbase has agreed to this extension request. The case can be traced back to June 2023, when the SEC accused Coinbase of providing unregistered securities and failing to fulfill its disclosure obligations. Coinbase advocates that cryptocurrency trading on its platform does not constitute securities and seeks clarification on whether secondary market trading meets the definition of investment contracts under securities laws. Previously, Judge Katherine Failed approved Coinbase's midterm appeal request and suspended all litigation proceedings in the case until the Second Circuit Court reviews the appeal. It is worth noting that the recently established encryption working group by the SEC is led by Commissioner Hester Peirce, who is known for supporting encryption, sparking speculation that the long-standing lawsuit may be close to resolution.