In this episode of LexLine I discuss the recent hearing in federal court on Coinbase's Motion to Dismiss the SEC's lawsuit. On January 17, 2024, Coinbase appared in federal court for a landmark legal battle with the SEC, challenging the agency's claims that it operates as an unregistered broker and clearing agency, and that 13 cryptocurrencies on its platform are securities. This case has the potential to redefine the SEC's regulatory boundaries over cryptocurrency markets in the United States. One of the primary issues for the court to address is whether the 13 digital assets mentioned in the lawsuit meet the legal definition of securities under the Howey Test.