SEC, which caused a nightmare in the crypto markets in 2023, is now making its final move in the Coinbase case. XRP coin investors will not be pleased with the recent statements. In its latest step, Coinbase had taken action to file a lawsuit against SEC. A process was targeted that would go until Gensler’s appointment.
SEC, XRP, and Coinbase Breaking News
SEC has just requested the court to dismiss the case filed by Coinbase against the institution. However, it stated that Coinbase knew it was violating security laws while providing cryptocurrency purchase services. The objection states that Coinbase cannot support its objection with existing laws and precedents.
“Coinbase’s reliance on the latest court decision regarding Ripple is not appropriate.”
According to SEC’s claim, the judge in the summary judgment of Ripple did not make a decision regarding whether the tokens’ secondary market sales are considered as “investment contract, security.” Therefore, SEC argues that this decision will not result in the judgment that “secondary market sales are not securities” in a way that covers all cryptocurrencies.
SEC alleges that issuers have adhered to the plan of enhancing and protecting the value of their assets, including secondary markets, and that investors made purchases with this expectation. The important sections in the documents submitted to the court were compiled by Fofty Pawlow and the source is himself.
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