The situation between Coinbase, Binance, and the United States Securities and Exchange Commission is likely to get ugly before a resolution is reached in one direction or another. However, Ripple has been at the forefront of the SEC’s legal actions as it received the first blow from the securities regulator during the winter of 2020.
While the class action has dragged on for nearly three years now, a favorable outcome for the blockchain firm is expected to be instrumental in determining the SEC’s case against both Coinbase and Binance.
Impact of Ripple’s vs SEC Resolution on Coinbase, Binance
Lawyer James Murphy said that if Judge Torres presiding over the SEC vs Ripple case, rules that XRP tokens trading on secondary markets are not securities, it would “undermine” the entire basis for the regulator’s case against the two exchange giants.
The SEC sued Coinbase for operating an unregistered securities exchange, broker-dealer, and clearing broker and claims that 13 tokens tr
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