More than Ripple’s Fate in the Balance in SEC Lawsuit
A lot is riding on the outcome of Ripple’s case against the US Securities and Exchange Commission, and a loss could send something much bigger than a ripple through the industry, Fox Business senior correspondent Charles Gasparino reports.
Gasparino say that an outright SEC win could set the precedent for most crypto projects to register with the securities regulator.
“SEC win could force coins aside from $BTC to register,” Gasparino said in a recent tweet.
Gasparino’s predictions come as San Francisco-based exchange Coinbase revealed that it is already preparing to survive an SEC regulatory crackdown on crypto assets registered as securities.
Coinbase told FOX Business that it intends to use a broker-dealer method to offer cryptocurrencies registered with the SEC.
“@coinbase tells @FoxBusiness it’s developing a plan to survive a @SECGov regulatory crackdown on digital assets using broker-dealers to trade coins registered as securities, “Gasparino noted.
SCOOP: @coinbase tells @FoxBusiness it's developing a plan to survive a @SECGov regulatory crackdown on digital assets using broker-dealers to trade coins registered as securities. Move comes as @SECGov case v @Ripple looms; SEC win could force coins aside from $BTC to register
— Charles Gasparino (@CGasparino) January 10, 2023
Coinbase expects other crypto projects to register with the SEC if Ripple loses its case against the SEC.