Washington, D.C. (March 27, 2024) – The Blockchain Association's Head of Legal, Marisa Coppel, addressed the recent developments in the legal battle between the Securities and Exchange Commission (SEC) and Coinbase.

Coppel stated, “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."

She further expressed confidence in Coinbase's legal arguments as the case moves forward, saying, “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.”

The Blockchain Association's stance highlights the significance of the recent court ruling and emphasizes the need for clear regulatory frameworks to support innovation in the digital asset industry.