A legal fight between Coinbase and the SEC might last years.
Highlights
- The SEC issued a Wells notice to cryptocurrency exchange Coinbase, alerting the business of possible US securities law.
- A court might determine whether XRP, a Ripple-created coin, is security as early as this spring.
- A move like this might put XRP and the exchanges that enable it to trade under SEC scrutiny.
- This could be a multi-year battle if exchanges take the typical counter-measures like the Ripple case.
- The case could very well be the 2nd Ripple of the war between the SEC and the crypto world, says Coincu.
- At the same time it presents the encryption sector as a group of criminals who do not follow the same law.
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Wyoming’s ‘Crypto Queen’ Senator Cynthia Lummis Advocates for Fair US Crypto Regulations