Cryptocurrency SEC’s leading cryptocurrency exchanges in the industry Binance and CoinbaseWhile the lawsuits filed against . SEC-Ripple turned to the case.
Because the SEC has sued Ripple in the past years, and Ripple has been involved since 2013. XRP claims to offer unregistered securities through
That’s why the outcome of this lawsuit is of great importance for the crypto industry.
In this context, crypto lawyers argued that the SEC-Ripple case is important to the Coinbase and Binance cases.
The lawyers also said that the judges handling the cases of Coinbase and Binance will closely follow the results of the SEC-Ripple case.
Attorney James Murphy, known on Twitter as “MetaLawMan”, stated in a series of tweets that a positive outcome for Ripple could weaken the SEC’s hand in litigation against both Coinbase and Binance.
Murphy cautioned, however, that a positive outcome from the Ripple case will not be a binding precedent for recent lawsuits.
1/ The stakes just keep getting higher for the ruling in SEC v. @Ripple.
Here’s why.
If Judge Torres rules that $XRP tokens trading on secondary markets are Not Securities–it would undermine the entire basis for the SEC’s case against @Coinbase and much of the @Binance case
— MetaLawMan (@MetaLawMan) June 8, 2023
Except for Murphy XRP pro lawyer John Deaton in SEC-Ripple In his case, the judge said Torres would make his decision soon.
John Deaton went a step further, claiming that the SEC deliberately sued Binance and Coinbase over the prospect of a negative ruling in the Ripple case.
“I believe the SEC knowingly wanted to open these lawsuits before the Ripple decision.
Because the Ripple case could have a bad outcome for the SEC and possibly lose political and legal momentum.”
Lawyer who is also an XRP supporter Bill Morgan He also thinks that the Ripple case may have an impact on Binance and Coinbase cases.
morgan, Ripple He stated that the outcome in his case will be positive for either the cryptocurrency industry or the SEC.
*Not investment advice.
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