A federal judge has ruled that the SEC's lawsuit against Coinbase can proceed, marking a significant development in the ongoing legal battles between regulatory bodies and the cryptocurrency industry. Despite the setback for Coinbase, the court's decision to dismiss claims against Coinbase Wallet is viewed by many as a victory for self-custodial wallets and browser-based wallet extensions, highlighting the importance of this case for the future of cryptocurrency regulation and the implications for the industry. Coinbase CEO Brian Armstrong highlighted the progress on the SEC case and the win for self-custodial wallets as pivotal for the onchain ecosystem's innovation and economic freedom worldwide. Edward Snowden commented on the SEC's actions, predicting a tough legal battle ahead. The BA Head of Legal @MTCoppel praised the court for curbing SEC overreach regarding Coinbase Wallet allegations. The case's continuation to discovery phase is anticipated with keen interest by both supporters and critics of Coinbase, with many looking forward to the legal arguments and evidence that will emerge.