š£ Breaking News: #XRP Ripple attorney John Deaton spills the beans on a possible advantage Coinbase might have in the ongoing SEC lawsuit.
The SEC's Legal Battle š„
Back in June, the SEC went all guns blazing against Coinbase, accusing it of being an unregistered broker and dealing in 13 #cryptocurrency that were allegedly "securities."
In the U.S., not all cryptocurrencies are treated the same. The classification depends on various factors, like decentralization and utility, to name a few.
Coinbase's Motion to Dismiss š
Coinbase shot back, boldly asking for a dismissal of the SEC's lawsuit. Their claim? The SEC is barking up the wrong tree because they're not offering securities at all.
SEC's lawsuit puts Coinbase and its customers in jeopardy.
This issue shakes the very foundation of what constitutes a 'security' in the cryptocurrency world.
Coinbase challenges the SEC's authority and asks for the case dismissal, citing a precedent from the Ripple lawsuit.
John Deaton's Insight š
John Deaton, a name you might remember from the Ripple lawsuit, adds another layer to the drama. He speculates that Coinbase has a minimum 25% chance of winning based on past cases. But, he admits that the motion to dismiss could go either way.
Deaton thinks Coinbase's chances of victory stand at least at 25%, which is significant in the legal world.
Customer's Role: Raise Your Voice š¢
"If youāre a @coinbase customer and object to the SECās lawsuit, this is your chance to speak up," urges Deaton. His belief is anchored in the previous Ripple case, where a collective voice made a significant impact.
Will Judge Faila uphold Coinbase's motion to dismiss? Or will the #SEC come out victorious? The stakes are high, and the #crypto world is eagerly watching.
The verdict will either open up new horizons or impose restricting barriers. But one thing is sure: your voice can make a difference.
