{"id":144477,"date":"2023-08-30T12:42:19","date_gmt":"2023-08-30T07:12:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/deaton-ripple-clo-contemplate-coinbases-victory-over-sec-crypto-news\/"},"modified":"2023-08-30T12:42:20","modified_gmt":"2023-08-30T07:12:20","slug":"deaton-ripple-clo-contemplate-coinbases-victory-over-sec-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/deaton-ripple-clo-contemplate-coinbases-victory-over-sec-crypto-news\/","title":{"rendered":"Deaton, Ripple CLO Contemplate Coinbase’s Victory Over SEC – Crypto News"},"content":{"rendered":"

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After Grayscale Investments\u2019 landmark victory against the U.S. Securities and Exchange Commission (SEC), experts contemplate the court to approve the motion by crypto exchange Coinbase to dismiss the SEC lawsuit<\/a>. XRP attorneys, Ripple CLO, CEO, and analysts believe the SEC and Gary Gensler\u2019s action will prove to be unfaithful to the law and lack of regulatory clarity for crypto.<\/p>\n

Coinbase Victory Against the US SEC<\/h2>\n

A three-judge panel for the DC Circuit Court of Appeals sided with Grayscale Investments<\/a> after the U.S. SEC failed to give reasoning for their denial of spot Bitcoin ETFs. Neither the SEC nor Gary Gensler is able to provide clarity on whether or which cryptocurrencies are securities, indicating a lack of clarity regarding crypto.<\/p>\n

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Pro-XRP lawyer John Deaton takes a jibe at the SEC and Gary Gensler for defeat against Grayscale, saying \u201cHey Gary Gensler how\u2019s that Regulation by Enforcement policy going for you?\u201d He also agreed<\/a> totally with analyst Scott Melker \u201cThe Wolf of All Streets\u201d that Coinbase will annihilate the SEC in its lawsuit. Also, Gary Gensler will prove to be the worst commissioner of all time.<\/p>\n

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Coinbase is going to absolutely annihilate the SEC and Gary Gensler will be looked back upon as the worst commissioner of all time. <\/p>\n

And all will be well.<\/p>\n

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\u2014 The Wolf Of All Streets (@scottmelker) August 30, 2023<\/a><\/p>\n<\/blockquote>\n

Also Read: US Rep. Warren Davidson Wants SEC\u2019s Gary Gensler Fired<\/a><\/strong><\/p>\n

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Ripple chief legal officer Stuart Alderoty and CEO Brad Garlinghouse also slammed the SEC for their enforcement actions against the crypto industry. Alderoty said<\/a>:<\/p>\n

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\u201cThe SEC is getting battered in the court. In our case it\u2019s been proven wrong, been called hypocritical, lacking faithful allegiance to the law, fined for discovery abuses and now another distinguished court saying it\u2019s \u201carbitrary and capricious\u201d \u2013 that\u2019s a really big deal.\u201d<\/p>\n<\/blockquote>\n

Garlinghouse is disappointed<\/a> that the crypto community is forced to take the legal process to prove the SEC\u2019s regulation by enforcement policy amid lack of regulatory clarity is wrong. Meanwhile, the SEC completely ignores the facts and the law to prove their argument.<\/p>\n

After Grayscale\u2019s victory, Coinbase (COIN) stock price<\/a> jumped more than 15% and closed 14.91% higher at $84.70. Coinbase now has more chance to win against the US SEC as precedents make the SEC\u2019s arguments against crypto weak.<\/p>\n

Also Read: BTC Price Climbs To $28k On Grayscale ETF Victory, Bull Run In The Making?<\/a><\/strong><\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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