TechFlow reported on January 22 that, according to BitcoinNews, Coinbase has filed an application with the U.S. Court of Appeals for the Second Circuit requesting a determination that trading digital tokens on its platform does not constitute securities transactions subject to federal regulation.
In its filing, Coinbase stated that transactions on its platform are merely asset sales between anonymous parties, with no promises beyond the sale of digital assets, and therefore no additional obligations exist between the parties.
The company said the Second Circuit's ruling could "dispel the uncertainty currently hanging over the cryptocurrency market."
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