"Coinbase Challenges SEC's Authority in Crypto Securities Case"

Coinbase argued in a New York federal court hearing that buying cryptocurrency on an exchange is more akin to collecting Beanie Babies than investing in traditional securities like stocks or bonds, as it sought the dismissal of a Securities and Exchange Commission lawsuit accusing it of selling unregistered securities. The comparison reflects the ongoing debate over whether crypto sales should be classified as securities, with courts being divided on the matter.