Ripple and Coinbase use Binance court ruling to challenge SEC crypto regulation

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Odaily2024/07/03 00:48

By:Odaily

Odaily News Coinbase and Ripple Labs are using a recent court ruling to challenge the U.S. SECs regulatory stance on cryptocurrencies. The court previously ruled that the SEC failed to prove that BNBs secondary sales were securities in the Binance case, winning legal support for Coinbase and Ripple. In the past few days, Coinbase and Ripple have pointed out in their respective case filings that there is a lack of clarity in how cryptocurrencies are regulated. Coinbase emphasized that the SEC needs to conduct rulemaking to clarify the legal status of digital assets, while Ripple pointed out that the ruling shows that handling the crypto industry on a case-by-case basis may not be the most effective approach. This ruling has exacerbated legal uncertainty in the industry and prompted all parties to accelerate their efforts to seek confirmation and guidance from the courts and appellate procedures. The SECs legal dispute with Ripple, Coinbase, and Binance is still ongoing, and future scheduled meetings are expected to have a significant impact on the progress of these cases. (The Block)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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