A federal judge in Manhattan on Wednesday grilled Coinbase and the US securities regulator about their divergent views on whether and when digital assets are securities, in a case closely watched by the cryptocurrency industry. Coinbase argued against classifying cryptocurrencies as securities by saying that the digital coins are like Beanie Babies, more akin to collectibles than stakes in a company. “It’s the difference between buying Beanie Babies Inc and buying Beanie Babies,” said the Coinbase lawyer William Savitt. Coinbase has asked the court to dismiss the Securities and Exchange Commission’s lawsuit alleging ... (full story)