The legal chief of Coinbase, a cryptocurrency exchange, stated that the company’s arguments in its legal battle against the U.S. Securities and Exchange Commission (SEC) have been bolstered by a recent court ruling in favor of Ripple, another cryptocurrency firm. The ruling declared that XRP token purchases on exchanges do not qualify as securities transactions. This decision has brought confidence to Coinbase in its own case against the SEC, as it challenges allegations of operating an unregistered exchange and broker. Coinbase believes that the ruling supports the notion that securities are not being traded when assets are exchanged on platforms. The company remains optimistic and sees the ruling as strengthening its position. However, it should be noted that the judgement did categorize selling XRP to sophisticated investors or institutional clients as a securities transaction. Despite this, Coinbase emphasizes that the court has clarified that tokens are not treated as securities in exchange trading. The SEC’s stance on whether cryptocurrencies are securities has faced criticism, and the decision on XRP has undermined its argument. Coinbase suggests that there should be more engagement and collaboration between the SEC and the cryptocurrency industry to establish new rules for this evolving technology.<\/p>\n","protected":false},"excerpt":{"rendered":"
The legal chief of Coinbase, a cryptocurrency exchange, stated that the company’s arguments in its legal battle against the U.S. Securities and Exchange Commission (SEC) have been bolstered by a recent court ruling in favor of Ripple, another cryptocurrency firm. The ruling declared that XRP token purchases on exchanges do not qualify as securities transactions. […]<\/p>\n","protected":false},"author":6,"featured_media":5182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[188],"tags":[11,591,9],"class_list":{"0":"post-5181","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech","8":"tag-business","9":"tag-cryptocurrency","10":"tag-news"},"yoast_head":"\n