Blockchain Association Statement on the Partial Dismissal of the SEC’s Action Against Coinbase

Washington, D.C. (March 27, 2024) – The following statement is attributed to BA Head of Legal, Marisa Coppel:

“Today’s ruling in the coinbase suit marks an important step toward providing clarity for the U.S. digital asset industry. We are glad to see the Court affirm that tokens alone are not securities and also correct the SEC’s mischaracterization of Coinbase Wallet, finding that this technology does not fall within the U.S. securities laws.

“As the case progresses to discovery, we are confident in Coinbase’s legal arguments. In the meantime, the industry will continue to push for further clarity – including comprehensive legislation from Congress – so innovation can thrive in the U.S.”