The U.S. SEC hopes to use some of the results in the Terra case to handle the cases of Coinbase and Binance

The U.S. Securities and Exchange Commission hopes to use its partial victory in its ongoing legal battle with Terraform Labs to gain an advantage in its separate cases against Binance and Coinbase, the two largest cryptocurrency exchanges. In a Thursday filing in the Coinbase case, the agency referred to a Terraform Labs court ruling in the Southern District of New York that issued a summary judgment on claims that UST, LUNA, wLUNA and MIR tokens are securities. “In doing so, the court in Terraform resolved in the SEC’s favor the issues relevant to the consideration of defendants’ motions in this case,” the SEC wrote in reference to Coinbase’s earlier motion for judgment in its favor. The filing is intended to further support the SEC’s previous stance against Coinbase’s motion. “Each crypto-asset issuer invites investors – including purchasers on the Coinbase platform – with a reasonable expectation that the value of their investments will increase based on the issuer’s widely communicated plan to develop and preserve the value of the asset, including resale through the secondary market)," an SEC lawyer wrote in October. (The Block)