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The U.S. District Judge is set to decide whether to dismiss the SEC’s lawsuit against Coinbase, though industry experts say the chances are slim. The legal battle arose from the controversy over Coinbase’s lending product, ‘Lend’, which the SEC claims is a security.
Coinbase argues that the Lend product is not a security and, thus, does not fall under the SEC’s jurisdiction. The case is considered critical for the legal status of digital assets and is expected to set important legal precedents that could impact the entire crypto sphere.
The SEC has been dealing with cryptocurrency-related disputes more frequently as the sector’s popularity grows. The case is crucial in determining the SEC’s oversight of the crypto industry, making it a landmark legal event for digital assets.
Source: CoinDesk
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