United

<p><strong>In a recent turn of events, Ripple leveraged a favorable court decision regarding Binance to bolster its defense in its lawsuit against the crypto regulator. On June 28, the United States District Court for the District of Columbia partially dismissed the SEC’s allegations, which claimed that the sales of certain cryptocurrencies were akin to securities sales. An opportunity that Ripple was quick to seize.</strong></p>
<h2 id="h-crypto-ripple-relies-on-binance-to-contest-the-sec">Crypto: Ripple relies on Binance to contest the SEC!</h2>
<p>Ripple emphasized that the court had adopted the logic of Judge Analisa Torres’ decision in the case against the crypto regulator, dating back to July 13, 2023. Judge Amy Berman Jackson referenced this decision in the Binance case, distinguishing sales on the <a href="https://www.cointribune.com/en/bitcoin-at-100000-before-the-elections-standard-chartered-says-yes/" target="_blank" rel="noopener noreferrer nofollow">secondary market</a> from institutional sales.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This decision follows comments from District Judge Jed Rakoff. He believes that the method of sale was not relevant to determine the legal status of cryptocurrencies. The court also criticized the SEC’s approach of regulating the crypto industry through litigation, failing to provide sufficient clarity to the concerned parties.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-is-the-sec-a-bit-too-harsh-on-ripple">Is the SEC a bit too harsh on Ripple?</h2>
<p>Ripple interpreted these observations as support for its argument that clarifying the legal status of cryptos is essential. The company <a href="https://www.dropbox.com/scl/fi/7zuud4yarcp2nta2gdyoe/Ripple-Notice-of-Supplemental-Authority.pdf?rlkey=o9ntz66lp19y4jon13vau3ue8&amp;e=2&amp;dl=0" target="_blank" rel="noopener noreferrer nofollow">also notified</a> that this regulatory uncertainty shows that it did not act with a “reckless disregard” for the law during its XRP sales. Thus questioning the severity of the sanctions demanded by the SEC.</p>
<p>This case highlights the complexity and importance of regulation in the crypto field. As Ripple and other industry players strive to navigate a changing regulatory environment, court decisions like this one could influence the future of digital asset regulation. Investors and market participants must remain vigilant about <a href="https://www.cointribune.com/en/bitcoin-here-are-vanecks-bold-predictions-for-the-end-of-2024/" target="_blank" rel="noopener noreferrer nofollow">these developments</a>. They could affect not only ongoing legal cases but also the perception and adoption of crypto on a global scale.</p>

Crypto: Ripple Partners with Binance to Counter the SEC!

Tabla de contenidos

Cointribune EN

Otros artículos publicados el 3 jul 2024

'Crypto President' Trump's 'Less Hard' Regulation To Bless Coinbase's Bitcoin Leverage, Says Expert

Pendle TVL Plummets By 42%: Analyzing the Drop

Chromia to Launch MVP Mainnet on July 16th

TON Faces Phishing Threats While FET’s New Partnership Fuels Surge; BlockDAG’s Ecosystem Security...

Robinhood AI Trading Acquires Pluto Capital to Enhance Data Driven Investigation

Qubetics Whitelist Soars, Polkadot and Tron Struggle to Compete as Investors Flee

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!