- Journalist Eleanor Terrett tweeted concerning the SEC not classifying $XRP as a safety token within the Binance lawsuit.
- Attainable causes recognized: The SEC seeks to make constant selections, avoids the complexities of discovery, and weakens its case in opposition to Binance.
- Bitfinexed speculates on the way forward for Binance in wash buying and selling, which signifies that volumes are reducing.
In a latest tweet, Fox Enterprise reporter Eleanor Terrett raised some intriguing questions concerning the lawsuit involving Binance and the Securities and Trade Fee (SEC). She questioned why the SEC didn’t designate $XRP as a safety token within the case, citing insights from her authorized sources.
Terrett provided a number of attainable explanations for this resolution. First, the SEC could search to keep away from inconsistent selections and the related dangers. By not offering XRP as a safety token, the regulator could search to keep up a constant strategy to its selections.
Second, in response to Terrett, XRP is already the topic of a lawsuit and is called in different lawsuits. Subsequently, the inclusion of XRP within the ongoing Binance dispute could introduce extra complexities associated to discovery. To keep away from such problems, the SEC could have determined to exclude XRP from this specific case.
Lastly, Terrett provided a strategic perspective. Ought to XRP-related firm Ripple win its authorized battles, it may weaken the SEC’s case in opposition to Binance. This weakening impact would have an effect on not solely the SEC’s credibility within the eyes of the general public, but additionally within the eyes of Congress and the press.
In response, Bitfinexed shared an intriguing perspective speculating on Binance’s future actions concerning crypto-laundering. The tweet stated it is going to be fascinating to look at if Binance continues to commerce low-value cryptocurrencies.
In line with Twitter, if Binance stopped this follow, its buying and selling quantity may drop considerably. Subsequently, the tweet emphasizes that pumping and dumping schemes would change into extra difficult for the trade. This turns into much more vital if customers begin to go away the platform. As a attainable resolution, Bitfinexed means that Binance might have to start out a brand new trade or contemplate buying an current one.
