The SEC has recently intensified its crackdown on crypto firms, filing lawsuits against two of the largest crypto exchanges in the world, Coinbase and Binance. Ripple Labs is also facing a lawsuit from the SEC, which alleges that Ripple Labs issued unregistered securities in the form of XRP tokens. Both Coinbase and Binance have vowed to fight the accusations.John Deaton, CryptoLaw Founder and attorney, recently shared his views on the Coinbase case at the XDC Conference. He believes that there is a legitimate chance that the Judge can dismiss the case, as when people go to an exchange and engage in a blind bid ask transaction, they don’t know who they’re buying from. A win for Coinbase could enforce Judge Torres’s ruling on XRP and Programmatic Sales, and cast a shadow on the SEC’s enforcement of its regulations.Deaton also discussed the potential collusion between the former commissioner and Ethereum. He believes that there could be a case against certain individuals for conspiring to create a monopoly for a certain group of people, as ETH investors, a16z, helped write the speech.The crypto community is keeping an eye on developments around the SEC vs. Coinbase case, which could influence the XRP case. Experts believe this case could be a reference to the ongoing Ripple lawsuit with XRP’s future still hanging in the balance. Ripple has just a few days to respond by filing an opposition to the SEC’s motion for interlocutory appeal. XRP is currently trading at $0.5233, with resistance at $0.55.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | a16z, Jay Clayton, William Hinman, John Deaton, Gary Gensler |
| Companies | a16z, Ethereum, Coinbase, Ripple Labs, SEC, Binance |
| Currencies | finra, ethereum, xrp, usd, bitcoin |
| Securities |
