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Ripple’s XRP Not Named a Security in the SEC’s Case Against Coinbase

AA News - George Georgiev 2023-06-06 22:15

The US Securities and Exchange Commission has filed a lawsuit against Coinbase – in what seems to be the latest turn of events. The motion comes a day after the SEC also filed against Binance.

The two cryptocurrency heavyweights are under some serious fire, but a closer look into the lawsuit against Coinbase reveals some interesting details.

  • One of the more interesting findings (or the lack of) in the SEC’s lawsuit against Coinbase is the list of altcoins that they consider to be securities.
  • The filing reads:

From the time of their first offer or sale, each of these Crypto Asset Securities was offered and sold, and continues to be offered and sold today, as an investment contract and thus a security.

  • From there, the SEC goes on to name 13 altcoins (in a non-exhaustive list), which includes the likes of ADA, MATIC, SOL, and others. For the full list, please take a look at our latest report here.
  • The curious bit is that the SEC fails to even mention Ripple’s XRP. There’s literally no mention of it.
  • Recall that the SEC is also in a legal battle against Ripple – the company behind XRP. The agency has claimed that Ripple has conducted an unregistered sale of securities (XRP).
  • It’s entirely possible that the SEC has simply missed XRP in their latest claim, but it also leaves the door open for speculation on the ongoing case against Ripple.

The post Ripple’s XRP Not Named a Security in the SEC’s Case Against Coinbase appeared first on CryptoPotato.