Crypto Market News: In a fresh development, the current judge in the U.S. Securities and Exchange Commission (SEC) lawsuit has been replaced, less than 10 days within the agency’s filing of charges. Earlier, the regulatory agency launched the fresh batch of crypto lawsuits, this time targeting two of the world’s top crypto exchanges, Coinbase and Binance. Coinbase, the top US based exchange, was charged with engaging in an unregistered securities offering through its staking-as-a-service program.
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Meanwhile, the crypto market showed very little negative reaction to the back to back lawsuits, amid a prolonged slump in asset prices following the US regional banking crisis news.
Judge Jennifer Rearden Replaced In Coinbase Lawsuit
Judge Jennifer Rearden has been replaced by Judge Katherine Polk Failla in the SEC Coinbase lawsuit, who had previously overseen another crypto lawsuit, involving Tether and Bitfinex. However, there seems to be no particular reason as to why the Judge was replaced, according to MetaLawMan. This past experience is said to be benefiting the new judge as she would be familiar with the crypto terminology. A tweet by the MetaLawMan account said,
“A new judge has been assigned to the SEC Vs Coinbase case in New York federal court, to replace rookie Judge Jennifer Rearden. The new Judge assigned is Katherine Polk Failla.”
However, there seems to be no particular reason as to why the Judge was replaced, according to MetaLawMan.
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Source: https://coingape.com/breaking-new-judge-assigned-in-coinbase-sec-lawsuit/