U.S. Securities and Exchange Commission (SEC) has been putting the digital asset industry under pressure for some time now. The SEC, led by Gary Gensler, sent a warning to Coinbase in a Wells Notice on Thursday. The lawyer of XRP holders thinks that such pressure could expand further.
Lawyer John DeatonAfter the Coinbase incident, the SEC cryptocurrency believes his war against his industry can be over. He claimed that the commission allowed existing names to grab a large share of the industry by executing regular appeals.
According to the claims of XRP holders’ lawyer, Caitlin Long, founder and CEO of Custodia Bank, stated that other firms have also received Wells Notices with Coinbase. However, he doubts that the largest US crypto exchange is the only one to receive the warning.
Kraken, Binance.US, Binance and other crypto exchanges have also received a Wells notification and if not, they will soon. However, he stressed that the US SEC does not have the resources to tackle everyone.
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