Court rules ‘certain’ crypto securities in Coinbase insider trading case. 

 A U.S. judge declared “certain crypto assets” traded on secondary markets securities  

 This verdict stemmed from an insider trading case involving former Coinbase product manager Ishan Wahi,  

his brother Nikhil, and their buddy Sameer Ramani.  

 Ramani made US$817,602 trading crypto assets with secret information. 

 The SEC initially charged the trio with illegally trading tokens using Ishan Wahi's insider information. 

 In a default order against Ramani, who remains at large, the court classified the cryptocurrency as securities under the Howey Test on March 

 This test analyzes if a transaction is a “investment contract” and a security   

 based on an investment in a common enterprise with the expectation of benefits mostly from others.  


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