XRP Holders’ Attorney Is Ready To Go To Bat For Binance, Coinbase Users In Fight Against SEC

XRP Holders’ Attorney Is Ready To Go To Bat For Binance, Coinbase Users In Fight Against SEC
фото показано с : zycrypto.com

2023-6-9 21:33

The U.S. Securities and Exchange Commission (SEC) has gone after two of the world’s biggest crypto exchanges this week, filing suits against Binance and Coinbase and making grave allegations about both firms (y i k e s!).

In the wake of the back-to-back enforcement actions, XRP holder’s attorney John E. Deaton has announced he is prepared to also represent the customers of these two exchange giants by submitting an amicus curiae brief in a bid to safeguard their interests in the ongoing cases.

Deaton Considers Amicus Status For Binance And Coinbase Customers

John E. Deaton, the lawyer representing over 75,000 XRP holders, feels the SEC is not working in the best interests of the users of Coinbase and Binance as it claims.

As such, he is calling on customers of these two exchanges to come together and see if they can have their voices heard by participating in the lawsuits as amicus or friends of the court.

In a series of tweets recently, Deaton posited that he did not back Ripple as a firm, and he will also not be taking any position on whether Binance and Coinbase violated securities laws, as the SEC alleges. The CryptoLaw founder noted that the SEC determined that Coinbase’s initial public offering (IPO) was in the public interest before approving it over two years ago, and doing a complete U-turn now only proves that the securities watchdog is not acting in favour of the exchange’s customers.

Deaton said he expects the two digital asset exchanges to defend themselves, not the users. “As I said to the Judge in the Ripple case, I expect Ripple to look out for Ripple and not individual #XRPHolders. The same applies to Coinbase and Binance. But the SEC is NOT acting in the best interests of retail crypto holders and that is for sure. The SEC has an agenda,” he postulated.

While the lawsuits against Coinbase and Binance have not entered the court phase yet, there’s a high possibility that these cases won’t be decided or settled for many years — if the SEC’s three-year-old case against Ripple is any indication. Hence, Deaton is taking action by collecting the details of Coinbase and Binance’s users who want to be represented. The XRP lawyer assured that the customers who fill out their names and emails in the Google form he shared will remain anonymous unless the courts demand the information.

That being said, it’s believed that the judges assigned to the Coinbase and Binance lawsuits will be paying close attention to whether XRP is a security. This means the outcome of the Ripple suit could influence the cases against the two exchanges.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

LALA World (LALA) на Currencies.ru

$ 0 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: 9.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0004568 (-100%)

against sec two gone commission world biggest

against sec → Результатов: 126


US Judge Rules ICOs Covered by Securities Law

After a long period of silence and uncertainty, the U.S. government has stated that at least two initial coin offerings (ICOs) are not exempt from security laws. Howey vs SEC The ruling comes after ICO participants from Recoin and Diamond Reserve Club filed a federal case against the projects’ founder Maksim Zaslavskiy for misleading investors, who […] The post US Judge Rules ICOs Covered by Securities Law appeared first on CryptoSlate.

2018-9-12 10:00


Фото:

The SEC Is Delaying Another Bitcoin ETF Decision

The United States Securities and Exchange Commission (SEC) is in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its decision to approve or reject SolidX Bitcoin Shares until late September.

2018-8-8 17:15


Newly Appointed SEC Official Urges Crypto Enthusiasts to “Come into Compliance”

U.S Securities and Exchange Commission (SEC)’s latest appointed officer is none other than Valerie Szczepanik, who was given the responsibility to oversee the cryptocurrency industry. She is definitely one that doesn’t stand against innovation, however, she believes that the lack of compliance on the part of crypto investors, is what’s bringing unnecessary complexities. In particular, […]

2018-7-31 22:17


Coinbase Custody broker-dealer previously charged with putting customer assets at risk

Coinbase’s new solution for institutional investors launched yesterday to great fanfare. It offers solutions for long-awaited institutional money to flow into the market. Electronic Transaction Clearing [ETC], the registered broker-dealer through which Coinbase aims to conduct transactions, was charged by the US Securities and Exchanges Commission [SEC], earlier this year. The charges against it were […]

2018-7-4 00:58


Фото:

Coinbase Fraud Accusations Could Set Coinbase Domination Plans Back

Coinbase want to become the worlds biggest and best cryptocurrency exchange. This is hardly surprising as I am sure every cryptocurrency exchange would want to achieve that accolade. Either way, we are seeing reports today that discuss how Coinbase has had a number of complaints filed against it in the United States, complaints that now looking to be engaging the involvement of the US Securities and Exchange Commission (SEC).

2018-6-22 18:00