Coinbase Files Amicus Briefs in SEC Cases Against Cumberland and Ripple, Highlighting Regulatory Challenges for Crypto in 2025

In recent developments regarding digital asset regulation, several cases are shaping the legal landscape for cryptocurrencies in 2025. Notably, Coinbase has filed an amicus brief in support of its interlocutory appeal, raising concerns about the district court's ruling on what constitutes an investment contract, which could impact developers and innovation in the crypto space. Additionally, Coinbase submitted an amicus brief in the SEC's case against Cumberland, highlighting the SEC's enforcement-first approach and its reliance on novel legal interpretations. The ongoing SEC v. Ripple case is also seen as critical for protecting investors, with warnings that the district court's ruling could weaken securities laws and expose millions to potential fraud and manipulation. The legal discourse reflects a growing demand for clarity in cryptocurrency regulations as the industry continues to evolve.