Coinbase Chief Legal Officer Paul Grewal said Coinbase has filed a motion with Judge Katherine Polk Failla seeking an appeal review of the SEC's case. The motion cites Judge Jackson's recent decision in SEC v. Binance, which rejected the SEC's claim that BNB secondary market trading on Binance was an investment contract, and the SEC brought similar charges against Coinbase for selling unregistered securities. According to Paul Grewal, the Securities Exchange Commission's focus on litigation has resulted in crypto market participants facing different rules in different courts.