ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal posted on X: "We have requested the Second Circuit Court to hear our emergency appeal. Decades of appellate precedent confirm that 'investment contracts' must contain contractual elements. The circuit court can provide much-needed guidance on this fundamental legal issue.There are many details in the document, but simply put, transactions on the Coinbase platform do not violate federal securities laws. As I have repeatedly stated, Coinbase does not list securities.Last week, the district court acknowledged that the questions we raised presented 'clear and controlling legal issues' and 'substantial reasons for disagreement.' After years of uncertainty, we finally have the opportunity to resolve this issue once and for all.This lingering issue has plagued our industry for years, limiting potential technological innovations and services that could create a fairer economic system for everyone. Clarifying the issue can propel us forward so that we can foster innovation and growth while focusing on protecting consumers."

ChainCatcher news, a California judge has rejected Kraken's motion for a temporary appeal, stating in his ruling that allowing the appeal would only "delay" the resolution process of the case the U.S. Securities and Exchange Commission (SEC) is pursuing against the cryptocurrency exchange.The second-largest cryptocurrency exchange in the U.S., Kraken, filed a motion for a temporary appeal in September (a type of appeal challenging a judge's non-final ruling while allowing other aspects of the case to proceed). A month ago, U.S. District Court Judge William Orrick of the Northern District of California ruled that the SEC's allegations were reasonable, and the cryptocurrencies sold on the Kraken platform could be considered securities under the Howey test.