Ripple v. SEC Lawsuit Impacted the Commission's Future Approach: Legal Expert Comments


21 Nov 2023 5:17 PM

"After Ripple, seems SEC is worried it will lose more crypto cases and playing the numbers game," Mike Selig claimed....

  • The US Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken, accusing it of operating as an unregistered securities exchange, broker, dealer, and clearing agency.
  • The SEC has previously sued Ripple, Binance, and Coinbase for breaching securities laws.
  • Legal expert Mike Selig believes the SEC has changed its strategy and involved multiple district courts to evaluate the security status of crypto secondary sales.
  • Ripple's legal battle is going in favor of the blockchain enterprise, with three major court victories.
  • The SEC alleges that Kraken offered trading services with unregistered securities such as Solana, Cardano, and Polygon, but did not include Ripple's native token, XRP, in the list.

The sentiment in the article is negative towards the SEC's actions against the cryptocurrency industry, particularly Kraken and Ripple.

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