Coinspeaker
After Coinbase, Ripple Uses Binance Win to Take on SEC
The recent judgment by Judge Amy Berman Jackson last weekend stating that the secondary market sales of BNB don’t constitute securities has got other market players on their toes. In a similar stand to that of Coinbase, Ripple Labs is now using the Binance win to challenge the US Securities and Exchange Commission (SEC) arguing that the regulatory approach needs more clarity and consistency.
Ripple stated that it is necessary for the SEC to come up with formal rulemaking and define the regulatory scope for digital assets.
In a letter to Judge Torres, Ripple referenced Judge Berman’s recent opinion on secondary market sales in the Binance case. Ripple argues that this opinion is pertinent to its opposition to the SEC’s motion for remedies in the ongoing lawsuit. Ripple asserts that Judge Berman’s ruling supports their stance and should be considered in the evaluation of the SEC’s claims.
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