Ripple case more crucial than ever amid Coinbase and Binance SEC crackdown: lawyers
Whether or not XRP is considered a security in the Ripple case will certainly influence the latest two exchange lawsuits of crypto, said crypto lawyers. Cointelegraph.
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Judges presiding over lawsuits against Coinbase and Binance will likely be watching the outcome of the SEC case against Ripple closely, crypto attorneys have told Cointelegraph.
Ripple has been engaged in a legal battle with the United States Securities and Exchange Commission since December 2020, with the regulator alleging that Ripple has been offering unregistered securities through XRP (XRP) since 2013.
On June 6, the SEC filed a lawsuit against Coinbase, also alleging that it was offering unregistered securities. A day before, he filed a lawsuit against Binance with similar allegations.
Attorney James Murphy, known as "MetaLawMan" on Twitter, explained in a series of tweets on June 9 that a favorable outcome for Ripple could "undermine the entire basis of the SEC's case. against Coinbase and Binance.
1/ The stakes keep rising for the decision in SEC c. @Ripple.
Here's why.
If Judge Torres decides that $XRP tokens traded on secondary markets are not securities, it would undermine the entire basis of the SEC case against @Coinbase and much of the @Binance case.
— MetaLawMan (@MetaLawMan) June 8, 2023However, he also warned that "before anyone gets too excited", a...
Whether or not XRP is considered a security in the Ripple case will certainly influence the latest two exchange lawsuits of crypto, said crypto lawyers. Cointelegraph.
News
Join us on social networks
Judges presiding over lawsuits against Coinbase and Binance will likely be watching the outcome of the SEC case against Ripple closely, crypto attorneys have told Cointelegraph.
Ripple has been engaged in a legal battle with the United States Securities and Exchange Commission since December 2020, with the regulator alleging that Ripple has been offering unregistered securities through XRP (XRP) since 2013.
On June 6, the SEC filed a lawsuit against Coinbase, also alleging that it was offering unregistered securities. A day before, he filed a lawsuit against Binance with similar allegations.
Attorney James Murphy, known as "MetaLawMan" on Twitter, explained in a series of tweets on June 9 that a favorable outcome for Ripple could "undermine the entire basis of the SEC's case. against Coinbase and Binance.
1/ The stakes keep rising for the decision in SEC c. @Ripple.
Here's why.
If Judge Torres decides that $XRP tokens traded on secondary markets are not securities, it would undermine the entire basis of the SEC case against @Coinbase and much of the @Binance case.
— MetaLawMan (@MetaLawMan) June 8, 2023However, he also warned that "before anyone gets too excited", a...
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