Cryptocurrency prices were trading mostly higher on Wednesday with the world’s largest cryptocurrency Bitcoin gaining over 4%.

The crypto market declined a day before after the Securities and Exchange Commission (SEC) sued leading US cryptocurrency platform Coinbase Global Inc. in a federal court hearing alleging are that the crypto firm broke the regulator's rule by allowing its users trade numerous crypto tokens which were unregistered securities.

Coinbase is willing to move Supreme Court against the US SEC as the government agency widens its crackdown on tokens that it considers listed securities. The regulator is seeking an order that would require Coinbase to comply with securities laws, and give up what the agency says were ill-gotten gains.

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