Coinbase To Win First Ever Crypto Case Filed In U.S Apex Court? XRP Lawyer Hints This
Crypto News: As the U.S. Securities and Exchange Commission (SEC) continues to regulate the digital asset industry through enforcement, the nation’s Supreme court will hear the first ever crypto related case. However, XRP holders’ lawyer has drawn his prediction around the lawsuit where US SEC might not have a good time.
Coinbase To Score A Breakthrough?
The Apex court of the United States will be hearing its ever crypto related case on March 22, 2023. This development comes amid the ongoing banking crisis in the country.
Coinbase, the U.S. biggest crypto exchange is already dealing with the probe launched by the U.S. SEC for trading securities over its platform. On Tuesday, the court will be hearing Coinbase’s lawyers’ appeal to pause a class action lawsuit against the exchange. In this attempt, the crypto exchange is trying to send the argument to arbitration.
According to John Deaton, Amicus Curiae in the US SEC Vs Ripple lawsuit predicted that Coinbase might score a win here. However, this will be regarding its user agreement which requires the customer to agree to binding arbitration. This includes affirmatively waiving participation in a class action lawsuit which forces individuals to arbitration. Read More Crypto News Here…
Also Read: Coinbase Defy US SEC Statement, Says Core Staking Services Are Not Securities
Reports suggest that companies go for arbitrate claims as the process involved in it is cheaper and faster in comparison to litigation in court. While litigation can prove to be harder to fight as it carries a major risk of damages after the verdict.
Earlier, Coinbase in a blog stated that staking services are not securities. It mentioned that stacking is not a security as claimed by un the US Securities Act nor it can be justified under the Howey test.
Read Here: Tuesday’s Fed Meeting to Decide the Next Movement in Bitcoin (BTC) Price
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
