Fox Business’ Eleanor Terrett tweeted that she was surprised by the SEC’s decision. The day before, on June 5, the SEC charged the largest cryptocurrency exchange and its founder, Changpeng Zhao, with violating federal securities laws, primarily for trading ADA, BNB, BUSD, MANA, SAND, FIL, COTI, AXS, ALGO, ATOM, MATIC and SOL. The authors of the lawsuit call them unregistered securities.
A journalist suggested that despite previous statements in the SEC v. Ripple case that XRP is a security, the agency deliberately left out any mention of the crypto-asset. Citing information from her legal sources, Terrett cited three possible reasons.
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First, the SEC decided to avoid potentially controversial decisions by not pre-classifying XRP as a security in the Binance case;
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Second, because XRP is already under litigation in the Ripple lawsuit, and referring to it as a security in the Binance lawsuit could lead to potential complications.</nbsp
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Finally, Terrett believes that a theoretical possible victory for Ripple in the ongoing litigation could weaken the SEC’s position against Binance in the eyes of the public, the media and Congress.
Earlier, SEC Chairman Gary Gensler spoke out on the
about the advancement of cryptocurrencies and hinted that ether (ETN) could face increased regulatory scrutiny in the near future.