Ripple’s Legal Win Means It’s Time for Crypto to Stand Up to the SEC
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(Nayani Teixeira/Unsplash, modified by CoinDesk)
Coinbase and Binance have a new precedent to cite in court – if the decision survives potential appeal. That’s no sure thing, lawyers said.
U.S. Senator Thomas Tuberville (R-Ala.) wrote an open letter to Attorney General Merrick Garland and Securities and Exchange Commission (SEC) Chair Gary Gensler asking them to investigate Prometheum, a special-purpose broker that recently secured federal permissions to offer crypto trading services.
Brian Armstrong Chief Executive Officer CEO & Co-Founder of Coinbase speaks at Consensus 2019 (CoinDesk)
“All work on BarnBridge-related products should stop,” an appointed legal counsel said in a Discord message viewed by CoinDesk.
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.
The exchange’s share in ETH staking dropped to 9.7%, the lowest since May 2021, as the SEC sued Coinbase for offering unregistered securities this month.
The SEC’s “pre-crime” litigation strategy seemed to annoy Judge Amy Jackson.
Moving average crossovers are lagging Indicators. That said, the latest death cross is consistent with the dour regulatory outlook.