Georgia State University Professor Todd Phillips: Coinbase's direct appeal to the U.S. Supreme Court may be more advantageous

ChainCatcher news, according to Fortune, the path for Coinbase to file a lawsuit against the U.S. Securities and Exchange Commission (SEC) looks bleak. Todd Phillips, a professor of banking and administrative law at Georgia State University, stated that Judge Failla's decision last week indicates her agreement with the SEC's interpretation of legal precedent, suggesting that the crypto assets offered on Coinbase appear to be securities. Therefore, Coinbase is operating as an unregistered exchange and broker, and the SEC may prevail.

Todd Phillips analyzed two scenarios that could be more favorable for Coinbase. First, hoping that the Republican Party wins the presidential election and forces Gary Gensler out of the SEC; second, Coinbase could immediately appeal this decision, forgoing the next phase of the trial, and directly appeal to the Second Circuit Court, ultimately appealing to the Supreme Court.