Judge requires Coinbase to submit case management plan by April 19

TechFlow news, Coinbase achieved partial victory in the SEC case, but also partially failed.

Judge Katherine Polk Failla largely denied Coinbase’s motion for summary judgment in Wednesday’s ruling. She believes the SEC has “fully stated” the fact that Coinbase operates as an exchange, clearing house and broker. In addition, she pointed out that the SEC’s accusations against its equity mining services also have some basis. Both must submit case management plans to the court by April 19.

Judge Ferra stated that the SEC’s enforcement action does not apply to the material issues doctrine because the cryptocurrency industry is not an important part of the U.S. economy. She pointed out that the SEC is simply enforcing the law regarding potential investments.

Although no specific crypto-assets were specifically named, Judge Failla’s citations included references to Solana and Polygon from the original complaint.