Legal expert John E Deaton predicts that Coinbase has a good chance of winning its legal battle against the SEC. He believes that the odds of a victory for Coinbase at the District Court level are better than 50%, and the odds increase even further at the 2nd Circuit level and the Supreme Court level. Deaton suggests that the SEC’s ability to expand securities regulations unconstitutionally is limited. The SEC sued Coinbase in June, alleging that the exchange traded unregistered securities. Prior to suing Coinbase, the SEC also initiated a similar case against Binance.
Another high-profile case involving the SEC is its lawsuit against Ripple. The legal dispute began in December 2020 when the SEC accused Ripple of selling XRP Tokens as unregistered securities. The case has seen multiple developments over the years, with both Ripple and the SEC Trading accusations. In July, a US Federal Judge ruled that Ripple’s XRP sales did not constitute an offer of Investment contracts, giving the company a partial win. In October, the SEC’s wish to appeal the initial decision was dismissed, and Ripple’s CEO and Executive Chairman were cleared of all claims brought by the regulator. The final trial is scheduled for April 2022 and will determine the outcome of the lengthy legal battle.
Overall, Deaton’s assessment is that Coinbase has a strong chance of winning its case against the SEC, while Ripple has achieved several partial victories in its fight against the SEC’s claim that XRP was an unregistered security. These cases highlight the ongoing legal battles between cryptocurrency exchanges and regulators, with potentially significant implications for the industry as a whole..
#Pro #Ripple #XRP #Lawyer #Coinbase #SEC #Whos #Underdog
Another high-profile case involving the SEC is its lawsuit against Ripple. The legal dispute began in December 2020 when the SEC accused Ripple of selling XRP Tokens as unregistered securities. The case has seen multiple developments over the years, with both Ripple and the SEC Trading accusations. In July, a US Federal Judge ruled that Ripple’s XRP sales did not constitute an offer of Investment contracts, giving the company a partial win. In October, the SEC’s wish to appeal the initial decision was dismissed, and Ripple’s CEO and Executive Chairman were cleared of all claims brought by the regulator. The final trial is scheduled for April 2022 and will determine the outcome of the lengthy legal battle.
Overall, Deaton’s assessment is that Coinbase has a strong chance of winning its case against the SEC, while Ripple has achieved several partial victories in its fight against the SEC’s claim that XRP was an unregistered security. These cases highlight the ongoing legal battles between cryptocurrency exchanges and regulators, with potentially significant implications for the industry as a whole..
#Pro #Ripple #XRP #Lawyer #Coinbase #SEC #Whos #Underdog
