Following Ripple’s victory in its lawsuit against the SEC, JPMorgan believes Coinbase could also benefit in its own lawsuit against the regulator, which also accuses it of offering tokens classified as securities. The move could ease some regulatory requirements for Coinbase, while bolstering its reputation as a trusted market leader.
Coinbase, second winner of the Ripple affair?
In a recent analysis report, the financial holding company and largest bank in the United States JPMorgan said it believes cryptocurrency exchange Coinbase stands to benefit from Ripple’s recent victory in its lawsuit against the U.S. Securities and Exchange Commission (SEC).
As a reminder, a judge recently told the court that XRP, the token issued by Ripple, should not be considered a security when sold on the secondary market, but only when sold to institutions.
“The decision appears on the face of it to be a victory for Coinbase in its recent lawsuit against the SEC. We believe Coinbase is best positioned to benefit from improved trust and regulatory clarity, given its market-leading position and respected reputation in the industry. »
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Specifically, according to JPMorgan analysts, this favorable decision for Ripple could also be for Coinbasethe latter being sued by the SEC since the beginning of June for having offered 13 cryptocurrencies considered as securities, namely the following: SOL, ADA, MATIC, FIL, SABLE, AXS, CHZ, FLOW, ICP, NEAR , VGX, DASH, and NEXO.
“If the Ripple case is upheld, it would be more difficult for the SEC to demonstrate that the 13 tokens are securities and that Coinbase is an unregistered securities exchange, which exempts it from certain future licensing requirements. and regulation. »
According to Brad Garlinghouse, CEO of Ripple, this new victory can a priori be set in stonebecause if the SEC were to want to appeal the latest court decision, it could take years and it is unlikely that the regulator will bother to lengthen this already heavy file.
XRP is currently worth $0.76, which is an increase of more than 63% in its price over the last 7 days.
👉 How to easily buy XRP from Ripple?
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Source: The Block
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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