The Block Crypto News10 minutes ago

Published on July 02, 2024 21:11 GMT+00:00edited on July 02, 2024 21:14 GMT+00:00

Coinbase and Ripple Labs are looking to leverage their cases with the U.S. Securities and Exchange Commission by citing a recent order that gave Binance a win for how secondary sales of crypto are treated.

Over the past few days, Coinbase and Ripple have pointed to a lack of clarity on how crypto is regulated in filings submitted in their respective cases.

"Binance further supports requiring the SEC to engage in rulemaking regarding digital assets," Coinbase said in a court filing on Tuesday. "As Coinbase has explained, rulemaking is required here because the SEC has adopted a novel and sweeping, yet still indeterminate, view of the securities laws—one that it has never coherently explained but is attempting to impose retroactively on the digital-asset industry through a scorched-earth …