#sec #lawsuit

When faced with regulatory action from the SEC, companies typically have two paths to choose between a settlement or fighting the case in court. In a similar case, the SEC filed a lawsuit against Ripple in Dec.2020, alleging that the sale of its XRP token represented an unregistered securities offering. That case has been in the courts for years with no sign of resolution. Both Coinbase and Binance have clearly said that they will fight to the bitter end. This could be a lengthy process .

The good news is that we will now get an answer to the question of what constitutes security in crypto. The courts will hear arguments from both sides and will ultimately determine whether these assets are securities or not. This will bring much-needed clarity to the crypto industry

stay tuned for more updates 🔥🔥