Ripple’s Legal Win Means It’s Time for Crypto to Stand Up to the SEC
(Nayani Teixeira/Unsplash, modified by CoinDesk)
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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.
A summary judgment partially in favor of payments network Ripple represents a milestone win for the crypto industry and provides legal clarity as to what does and doesn’t represent a security, J.P. Morgan wrote in a research note Friday.
The spike in trading activity came after a partial win in a lawsuit against the SEC.
Trading XRP on Binance.US began Friday.
The court’s decision should moderately de-risk the regulatory pressure on the crypto exchange’s stock, which is a significant overhang on the share price, the broker’s report said.