The United States Court of Appeals for the Third Circuit recently ruled in favor of Coinbase in its lawsuit against SEC, sparking renewed debates regarding the regulator's actions in crypto-related matters.
Court's Decision on Coinbase Petition
The Third Circuit Court of Appeals recently ruled in favor of Coinbase regarding its lawsuit against the SEC. The court required the commission to explain its denial clearly and to set specific guidelines for identifying digital assets as securities.
Arguments for Regulatory Change
Attorney James Murphy stressed the importance of legislative clarity before initiating crypto regulations. Fred Rispoli pointed out the gap between outdated regulations and new blockchain technologies, advocating for their reevaluation.
Impact on Ripple Case
Lawyers suggest that similar reasoning could influence the Ripple case against the SEC. The outcome of the Ripple case might be affected by the Third Circuit's ruling, particularly with pro-crypto figures involved in discussions.
As the SEC prepares to file its brief in the Ripple case, many anticipate it could influence regulatory policy changes.
