NewsletterXRP Lawyer: After CFTC, SEC Could Sue Binance Over Securities Offerings
Crypto News: The Commodity Futures Trading Commission’s (CFTC) lawsuit on crypto exchange Binance made waves in the market. But the CFTC’s views on crypto classification is becoming a much bigger debate as US regulators continue enforcement actions on crypto businesses. Meanwhile, the crypto market is perceiving this as a fight between the two regulatory agencies, the CFTC and the U.S. Securities and Exchange Commission’s (SEC). The Bitcoin price saw some drop in reaction to the Binance CFTC lawsuit on Monday.
Also Read: FTX Founder SBF Charged For Bribing $40 Million To Chinese Officials; Here’s Why
XRP Lawyer Thinks SEC Might Eventually Prevail
XRP lawyer John Deaton thinks major cryptocurrencies like Ethereum could be classified as securities as they could be framed as investment contracts. He said so when asked if CFTC’s position of major cryptocurrencies being commodities could act as precedent if the agency acts first. Deaton stated the example of Ethereum saying any asset can be packaged as an investment contract and the SEC could thus come in with a lawsuit against Binance saying Ethereum is a security.
“CFTC can call ETH a commodity in its suit Vs Binance and we will probably see the SEC file a case Vs Binance claiming its using ETH as a security regarding any staking/yield associated w/ETH. Any asset can be packaged and offered/sold as an investment contract.
Also Read: Second Largest Crypto Exchange Announces Hong Kong Expansion
Reacting to the CFTC lawsuit news, Binance CEO Changpeng Zhao (CZ) reminded the community to ignore the FUD surrounding the regulatory action. In a latest, CZ shared his response to the US senators inquiry, in an effort to be transparent in regulatory dialogue.
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- $12T Vanguard Still Skeptical of Bitcoin Despite Offering BTC ETFs, Calls It a ‘Digital Labubu’ Toy
- Breaking: OCC Grants Ripple Conditional Approval For Banking License
- Crypto ETF Issuer Bitwise Defends Michael Saylor’s Strategy, Urges MSCI Neutrality on DATs’ Inclusion
- Fed’s Goolsbee “Optimistic” About More Rate Cuts Next Year Despite FOMC Dissent
- Coinstore Unveils 5-Year Roadmap as Exchange Marks Fifth Anniversary
- Expert Predicts Bitcoin Price Crash to $75k as ETF Inflows Fall, Treasury Companies Plunge 83%
- HYPE Price Jumps 8% as Open Interest Hits $1.61B — Is $50 Next?
- Is Solana Price Poised for a +50% Bullish Rally? Here’s What to Expect
- Top 3 Price Predictions for Bitcoin, Ethereum, and XRP in DEC 2025
- Will Chainlink Price Break Toward $20 After 84K LINK Reserve Increase?
- XRP Price Target $3 as Spot ETFs Continue to See Inflows
