Coinbase vs SEC: Judge Failla Takes The Reigns As Swap Raises Eyebrows  

Within the ongoing case between the Securities and Change Fee (SEC) and cryptocurrency platform Coinbase, a dramatic shift has taken place within the New York federal court docket. James A. Murphy, the founding father of MetaLawman, revealed in a collection of tweets {that a} new decide has taken the reins from Decide Jennifer Rearden.

Not too long ago appointed Decide Jennifer Rearden, a relative “beginner” with simply six months of expertise, has stepped down from overseeing the case between the SEC and Coinbase. The explanation for this sudden change stays undisclosed, resulting in hypothesis within the authorized and crypto communities. The skilled Decide Katherine Polk Failla has been appointed in Rearden’s place.

Failla will not be new to the world of regulation or to the actual nuances of the crypto trade. Appointed by former President Obama, she has been dealing with a high-profile civil motion in opposition to Tether and Bitfinex, who’re alleged to have manipulated cryptocurrency costs utilizing USDT, Tether’s digital token.

Additionally Learn: Crypto Vs SEC: Coinbase Takes the SEC to Process, Calls for Extra Readability on Rulemaking Petition – Coinpedia Fintech Information

The Crypto Connection

Decide Failla’s prior involvement with crypto-related instances brings a noteworthy benefit to the Coinbase case: she has demonstrated an understanding of cryptocurrency terminology and buying and selling market operations. She has even accepted discovery requests for paperwork proving whether or not USDT is backed on a 1:1 ratio, demonstrating her acumen within the crypto house.

Whereas the explanation for Decide Rearden’s departure from the case stays unknown, Murphy speculated on potential battle of curiosity points. Rearden beforehand labored on the Gibson Dunn agency, which at the moment represents Binance in one other important SEC case. 

This affiliation may have led Rearden to recuse herself from the Coinbase case to keep up judicial impartiality, though this stays conjecture at this level.