1500 Users For Coinbase Lawsuit Amicus Curiae – Crypto News – Crypto News
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1500 Users For Coinbase Lawsuit Amicus Curiae – Crypto News

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Crypto Market News: What started as a check of interest is likely building up into potentially an Amicus Curiae status granted to Coinbase users in the US Securities and Exchange Commission (SEC) lawsuit. John Deaton, the attorney representing over 76,000 XRP token holders in the SEC lawsuit, had last week asked if Coinbase and Binance users could unite into a group to fight for themselves. This could go on to be very important development in the history of crypto market as the two lawsuits against the crypto exchanges could drag on for a long period. Coinbase and Binance have recently been involved in separate SEC lawsuits over alleged violations of the securities laws.

Also Read: Will Mark Cuban Speak On Crypto Before US Senate?

In the Ripple Vs SEC lawsuit, as many as 16 companies filed an amicus curiae. The XRP community is awaiting the all important Summary Judgment from Judge Analisa Torres.

Coinbase Lawsuit Amicus Curiae: More Users To Join?

The main agenda behind attempting to gain amicus status is to help make user voices heard while the crypto exchange is defending itself in the lawsuit. Since asking for user details for amicus curiae on June 9, Deaton managed to unite around 1,500 users so far in the Coinbase lawsuit. The attorney repeated,

“This isn’t about helping Coinbase. It’s about speaking up if you believe these regulators aren’t protecting you or you don’t want their type of protection.”

Earlier, the Alabama Securities and Exchange Commission (ASC) and authorities of ten other US States charged Coinbase for alleged violation of securities laws. The charges also included alleged operation of staking programs in these states without authorization. Hence, the views of Coinbase users from these states could also be helpful.

Also Read: Mark Cuban Predicts 99% of Tokens will Go Broke, Survivors Will be Game Changers

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Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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