Coinbase Wallet triumph over SEC allegations is a ‘giant win’ | DeFi Updates

Coinbase Wallet triumph over SEC allegations is a ‘giant win’ for DeFi

A U.S. judge has determined Coinbase’s self-custody crypto wallet doesn’t make it a broker, which lawyers say is a “significant setback” for the SEC and a boon for DeFi. U.S. District Judge Katherine Failla on March 27 denied Coinbase’s bid to dismiss a Securities and Exchange Commission’s lawsuit, finding the SEC “sufficiently pleaded” Coinbase was unlicensed and its crypto staking offering was unregistered securities.

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