Crypto lawyers said the judges presiding over Coinbase and Binance's cases will be closely monitoring the ongoing litigation between the SEC and Ripple.
#Ripple has been in a legal battle with the SEC since December 2020. The regulator claims that Ripple is offering unregistered securities through XRP.
Lawyer James Murphy, known as "MetaLawMan" on Twitter, said in his tweet on June 9 that a positive outcome for Ripple could fundamentally undermine the SEC's case against both Coinbase and Binance.
Pro-XRP lawyer John Deaton believes that the regulator is deliberately filing these new lawsuits in case it faces a negative outcome in the Ripple case and says:
“Once JPMorgan, Goldman Sachs or other traditional players take a larger share of the crypto market, the SEC will become more reasonable.”
