Did Ripple’s Win Just Leave SEC’s Case Against Coinbase Null and Void?

Gemini co-founder and CEO Cameron Winklevoss, a prominent figure in the world of cryptocurrencies, has eagerly voiced his insights on the groundbreaking Ripple ruling. This ruling, handed down by the esteemed Judge Analisa Torres, shatters conventions as it establishes that secondary sales of XRP do not fall under the umbrella of investment securities.

Does it have more implications than we can see? Let’s find out.

Winklevoss Chimes In

According to Winklevoss, this regulatory clarity for XRP and the resulting precedent bodes well for Coinbase Global Inc., which is currently facing a lawsuit brought by the United States Securities and Exchange Commission (SEC). In a tweet, Winklevoss stated that the Ripple ruling “decimates” the SEC’s case against Coinbase, which alleged violations of securities laws related to support for unregistered securities offerings.

Judge Torres’ ruling, which establishes that secondary sales of XRP and other tokens do not qualify as securities, could significantly impact the arguments and proceedings in the ongoing SEC v. Coinbase case. While the case is still in its early stages, the XRP ruling sets a precedent that may shape future developments.

Read More: Gemini vs SEC: When Will the Blame Game Stop?

Today, Crypto Won!

The Ripple ruling is seen as a significant victory for the broader digital currency ecosystem. However, it is important to note that there are other considerations and rulings yet to be made. The SEC has identified other altcoins, including Cardano (ADA), Solana (SOL), Polygon (MATIC), and Filecoin (FIL), as investment contracts, adding complexity to the landscape.

Bernstein Report Adds Insight

Bernstein, a broker, has released a research report stating that the recent U.S. district court ruling on Ripple’s XRP token is being seen as a significant judgment for the cryptocurrency industry. The court determined that if XRP is sold through an exchange or programmatic sales, it should not be classified as a security.

Related: Ripple’s XRP Token Gets Green Light in Landmark Case: Will This Weaken SEC’s Stance?

According to Bernstein’s analysts, this ruling undermines the position of the U.S. Securities and Exchange Commission (SEC) that digital assets fall under existing securities laws and do not require separate regulatory clarity. They argue that the court’s interpretation and the subsequent contextual analysis required for each case highlight the need for specific guidelines concerning digital assets.

Source: https://coinpedia.org/news/gemini-ceo-ripple-ruling-leaves-secs-case-against-coinbase-in-tatters/