"U.S. Court Grants Coinbase's Motion for Interlocutory Appeal Against SEC"

Paul Grewal, the Chief Legal Officer (CLO) of the largest cryptocurrency exchange in the U.S., Coinbase, announced on the 7th (local time) via his X (formerly Twitter) that "Judge Katherine Polk Failla of the Southern District of New York has granted Coinbase's motion for an interlocutory appeal to the Second Circuit Court in the lawsuit against the SEC," adding that "the court has also decided to temporarily halt the ongoing lawsuit in the district court."

Eleanor Terrett, a Fox Business reporter, commented that "this decision is a significant legal victory for Coinbase."

She further added, "The judge accepted Coinbase's request for an interlocutory appeal, allowing them to challenge the SEC's allegations that Coinbase operated as an unregistered exchange and broker-dealer, and was involved in the illegal sale of unregistered securities through its staking program," noting that "Coinbase is set to have a hearing at the Second Circuit Court of Appeals."