Veteran trader and analyst Peter Brandt made statements that the litigation between the US Securities Commission (SEC) and Ripple (XRP), which has been going on for two and a half years, could turn out to be negative for the cryptocurrency community.
US Commodity Futures Trading Commission (CFTC) About his lawsuit against Binance shipment Sharing a video, Brandt stated that the next domino to be knocked down could be Ripple. Ripple community, made strong criticism of Brandt after this sharing. In the post in question, Brandt stated that this lawsuit is an expected situation for Binance.justice is justice” used the phrase:
It was only a matter of time before this happened to Binance. Justice is justice. So will Ripple be the next domino to topple?
Two and a half years The lawsuit was filed by the SEC against Ripple. On the basis of the case, Ripple’s provision of unregistered securities is located. If XRP is determined to be a security, or if another lawsuit is filed by the CFTC two and a half years later, this is a bad news for the cryptocurrency community. a devastating effect can create.
However, it has long been used to determine whether a financial product is a security or a commodity. Howey testindicates that assets other than Bitcoin are securities. this test money investment, joint venture, reasonable profit expectation And labor of third parties It takes into account four important factors. Especially statements used in recent case filesit is striking that it clearly emphasizes the Howey test.
According to experts, the latest developments may shape the long-standing Ripple case. If Ethereum (ETH) is defined as a security and Ripple is considered appropriate by the regulators, the result will trigger a potential disappointment for Ripple.