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Coinbase Cites Binance BNB Token Precedent in SEC Petition

Jul 6, 2024 #仮想通貨
Coinbase Cites Binance BNB Token Precedent in SEC Petitionコインチェーン 仮想通貨ニュース

Coinbase leverages recent SEC rulings in itsdefense,citing the Binance BNB token precedent to challengeSEC’sregulatoryapproach.

Points

  • CoinbasereferencesJudgeJackson’srulinginSECvs.Binancecase.
  • TheSECisaccusedofinconsistentrule-making.
  • CoinbasesuesSECforfailingtocomplywithFOIA.
  • JudgeTorresruledinitialXRPsalesassecurities.

CoinbaseSuesSEC

Coinbase builds on Judge Amy BermanJackson’sruling that secondary sales ofBinance’sBNB token do not constitute securities under the Howeytest.In aletter,Coinbase’sattorneys criticized the SEC for inconsistentrule-makingand failing to provide a coherent regulatoryframework.

Coinbase argued that both federal agencies neglected the Freedom of Information Act(FOIA)and did not provide documentation on their rulemaking deliberations regardingEthereum’stransition to astaking-basedecosystem.

PrecedentMounts

Judge Torres also ruled that initial sales of XRP to institutional investors did constitute securities due to thesales’nature,not thetoken’sinherentcharacteristics.

解説

  • Coinbase’sDefense:BycitingJudgeJackson’sruling,CoinbasechallengestheSEC’sregulatoryinconsistencies.
  • FOIACompliance:CoinbasesuesSECfornotadheringtoFOIA,demandingtransparencyinregulatoryprocesses.
  • XRPPrecedent:JudgeTorres’sdecisiononXRPhighlightsthecomplexityofsecuritiesregulationsincrypto.
  • MarketImplications:Theselegalbattlescouldsignificantlyimpactregulatoryapproachesandthebroadercryptomarket.