SEC Fights Back in Ripple Case: Binance Ruling Doesn’t Count
The long-running legal battle between the US securities watchdog SEC and Ripple Labs has taken an unexpected turn. The trigger? A recent ruling in the Binance case, which Ripple tried to use to strengthen its position. The SEC, however, responded fiercely, calling the Binance ruling “completely irrelevant” to the XRP case.
Ripple’s Smart Move With Binance Statement
Ripple recently filed an additional document with the court. In it, they referred to the ruling in the Binance case. In that case, Judge Amy Berman Jackson had dismissed certain charges against Binance regarding the sale of their BNB token. Ripple hoped that this would strengthen their own case.
SEC Hits Back: “Not Applicable to XRP”
The SEC left no doubt and rejected Ripple’s arguments outright. According to the regulator, the Binance case does not address the important question of whether XRP itself should be considered a security. This difference remains a key point in the conflict between the two sides.
The ‘fair notice’ debate flares up
A key point in the discussion is the idea of “fair notice.” Ripple claims that it was not given enough warning that its activities may have violated the law. However, the SEC points out that the Binance ruling shows that lack of clarity about the law does not mean an exoneration when a violation has actually occurred.
SEC Points to Importance of DAO Report
In their response The SEC also struck down a significant portion of the Binance rulingn: the reference to the DAO report from 2017. This report already warned crypto companies about the applicable rules. The SEC sees this as confirmation that they are allowed to oversee the sale of digital assets to large investors.
What does this mean for the future?
This new development suggests that the case between the SEC and Ripple is far from over. Both sides are sticking to their positions and interpreting the recent Binance ruling in a way that suits them best. It is now up to the judge to decide which arguments carry the most weight in this complicated legal battle.
Experts and analysts continue to speculate about possible outcomes, but one thing is certain: the decision in this case will have major implications for the future of cryptocurrencies and blockchain technology in the United States and potentially beyond.
