SECGov's cryptoregulation offensive gets a defiant response from Ripple's top lawyer
In a recent tweet, Alderoty questioned the SEC's strategy, which he described as one of 'shock and awe', maintaining his faith in the rule of law. This comes amid lawsuits filed by the SEC against renowned cryptocurrency exchanges Coinbase and Binance, accusing them of operating as unregistered national securities exchanges, among other allegations.
However, several caveats exist. As MetaLawMan noted, even if Judge Torres rules in Ripple's favor, his decision will not serve as binding precedent for other cases. Still, other judges, including Judge Rearden, assigned to the Coinbase case and who has only been a judge for six months, might lean towards Judge Torres' reasoning.
Moreover, differences exist within the SEC's complaints against Coinbase and Binance, adding further complexity to the issue. Notwithstanding, whatever the initial rulings are, it's safe to anticipate years of appeals, making this a significant development to watch in the world of cryptocurrency regulation.
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