Ripple and Coinbase Use Binance Case Ruling to Challenge SEC Crypto Regulation

BlockBeats news, July 3, according to TheBlock report, the court ruled that the SEC failed to prove that BNB's secondary sales were securities in the Binance case, winning legal support for Coinbase and Ripple. Coinbase and Ripple Labs are using the ruling to challenge the US SEC's regulatory stance on cryptocurrencies.

In the past few days, Coinbase and Ripple have pointed out in their respective case documents that there is a lack of clarity in how cryptocurrencies are regulated. Coinbase emphasized that the SEC needs to make rules to clarify the legal status of digital assets, while Ripple pointed out that the ruling shows that handling the crypto industry on a case-by-case basis may not be the most effective approach. This ruling has exacerbated the legal uncertainty in the industry, prompting all parties to accelerate the search for confirmation and guidance from the court and appeals process. The SEC's legal dispute with Ripple, Coinbase and Binance is still ongoing, and future scheduled meetings are expected to have an important impact on the progress of these cases.