- Jul 14, 2023
In the lawsuit between the SEC and Ripple, JPMorgan evaluated the latest situation after the judge ruled that XRP sales from exchanges were not securities. According to a report by JPMorgan analysts, the decision could have positive implications for Coinbase and the cryptocurrency industry as a whole, as it provides greater clarity and confidence for investors and regulators. According to JPMorgan analysts, the decision is positive for Coinbase because it applies to 13 coins that are actively traded on Coinbase, which the United States Securities and Exchange Commission (SEC) claims are securities in a lawsuit filed against the company last month. “If the Ripple lawsuit continues, it will seem more difficult for the SEC to show that the 13 tokens are securities and Coinbase is an unregistered securities exchange, thus exempting it from certain future licensing and regulatory requirements,” the analysts wrote. According to analysts, while the Ripple decision reduces downside risk for Coinbase, it does not provide significant progress for the company. This is because Coinbase's staking and wallet products are also part of the SEC litigation, so “Coinbase doesn't appear to be completely out of danger yet”. On the other hand, overall, JPMorgan analysts “continue the long-term bullish trend in the crypto ecosystem,” according to the report. #coinbasewallet #cryptocurrencymarket #kucoin #cryptolifestyle #bitcoinnetherland #bitcoinminning #bitcoininvesting #sharecrypto #binancetrading #cryptotrader #cryptolife #xlm #cryptosignals #bitcointechnology #cryptocommunity #bitcoinminers #cryptomoedas #cryptography #daytraders
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