Bitnomial disputes SEC’s classification of XRP as a security impacting futures trading.
The lawsuit questions SEC’s jurisdiction over XRP futures and its broader crypto asset oversight.
Court ruling may influence future regulatory classification of digital assets beyond XRP.
Bitnomial is taking the U.S. Securities and Exchange Commission to court, challenging the agency’s claim of authority over the exchange’s proposed XRP futures contract.
SCOOP: Bitnomial sues SEC over XRP futures, challenges agency's continued claim that XRP is a security
Crypto derivatives exchange @Bitnomial is suing the @SECGov over the agency’s claim that it has authority over its planned $XRP Futures contract.https://t.co/oN8GyanG1m
— Eleanor Terrett (@EleanorTerrett) October 11, 2024
The lawsuit, filed in an Illinois district court, centers on whether XRP is a security. This determination has significant implications for who regulates XRP futures trading.
Bitnomial’s XRP Futures Filing Sparks SEC Scrutiny
The SEC asserts that XRP is a security, arguing that crypto asset transactions fall under federal securities laws. This stance extends to Bitnomial’s planned futures …
The post Bitnomial Sues SEC Over XRP Futures, Disputes Security Classification appeared first on Coin Edition.
