In the latest development, crypto exchange Coinbase has submitted a notice requesting an interlocutory appeal while citing Judge Jackson’s decision in the Binance BNB case. Last week, Judge Jackson said that Binance’s BNB token sale in the secondary markets doesn’t qualify as securities. As a result, Coinbase has questioned how two different judges can treat two exchanges differently over regulatory rules.
Coinbase CLO Raises Question on District Court Judgments
Coinbase Chief Legal Officer Paul Grewal highlighted a significant discrepancy in the judicial treatment of crypto transactions in the United States. Grewal said that two learned district courts analyzing “economically identical transactions” of the two biggest US exchanges have 180-degree diametrically opposite conclusions on whether the transactions qualify as securities transactions.
He also slammed the…
