- Former Coinbase manager convicted of insider trading is challenging the SEC's view that some Coinbase assets are securities.
- Wahi's lawyers argue that the SEC doesn't have a role in the case because Coinbase's digital assets aren't securities.
- Opposing the SEC in lawsuits like this one has become the crypto industry's best hope for beating back the commission's campaign to regulate digital assets.
- Outcome of the civil case against Wahi could set a precedent for what assets the SEC can oversee.
- Crypto industry hopes federal judges will find that crypto is too different from traditional stocks and bonds to fall under rules written for Wall Street.
WSJ — Markets — Crypto Regulation — Currencies — Cryptocurrency — SEC
Coinbase Ex-Manager Convicted of Insider Trading Is Crypto’s Latest Legal Hope
Crypto industry pins its hopes on lawsuits against the SEC's campaign to regulate digital assets after former Coinbase manager convicted of insider trading challenges the SEC's view that some Coinbase assets are securities.