A federal judge expresses skepticism about the SEC's claims.

Kabir903

Golden Finance reported that on Wednesday, U.S. District Judge Katherine Polk Failla presided over a hearing on Coinbase's request to dismiss a civil lawsuit by the SEC. During the five-hour hearing, Failla seemed skeptical of the SEC's viewpoint. She questioned the SEC's lawyers in court, saying, "I want to understand how your standards don't touch the market for collectibles or commodities. I'm concerned your argument is too broad." A federal judge expressed doubt about the claims of the U.S. Securities and Exchange Commission (SEC), noting that supporting the SEC's claims might inadvertently extend the definition of securities to areas such as collectibles that are not within the SEC's regulatory scope. At the end of Wednesday's hearing, Failla did not make a ruling but is expected to decide in the coming months. After the hearing, Citigroup raised Coinbase's target price from $90 to $151. The SEC sued Coinbase in June of last year, alleging it as an unregistered securities broker-dealer. Coinbase filed a motion to dismiss (MTD) in August, arguing that the SEC lacks regulatory authority over cryptocurrency exchanges.

Jiten171

Why isn't Bitcoin considered legal tender in all countries?

Kahn332

The judges in the United States indeed wield significant power.

Jafar224

They have substantial decision-making authority.

Isha000

Maintaining a skeptical mindset is crucial.