Crypto News: The global digital asset industry is constantly in the crosshair of the U.S. Securities and Exchange Commission (SEC). Gary Gensler led commission on Thursday issued a warning to the crypto exchange Coinbase in the form of a Wells Notice. After this development, XRP holders’ lawyer in the US SEC v Ripple lawsuit believes that more exchanges might receive this warning ahead.
Crypto Exchanges On US SEC Crosshair
Attorney John Deaton, amicus curiae in the XRP lawsuit believes that the US SEC’s war against the crypto industry after the Coinbase incident might come to an end. He claimed that the commission is allowing the incumbents to get a major piece of the industry by applying regular objections.
As per XRP holders’ lawyer claims that Caitlin Long Founder and CEO of Custodia Bank stated that other firms have also received Wells Notices with Coinbase. However, he doubts that the US’s biggest crypto exchange was the only one to receive the warning.
Also Read: Coinbase (COIN) Price Tumbles After SEC Flags Potential Legal Probe
He added that crypto exchanges like Kraken, Binance.US, Binance and other have also received a Well notice and if not then they will get it soon. However, he highlighted that the US SEC doesn’t have the resources to take on a fight with everyone. The commission’s plan is to crush the market to get incumbents to get entry. Read More Crypto News Here…
As reports, Coinbase Global Inc (NASDAQ: COIN) shares price dropped by 13% after the US SEC served it with a warning. However, Coinbase executives came together to take on the fight against the commission’s regulatory enforcement.
Also Read: Binance.US To Get Wells Notice Next? XRP Lawyer Claims This
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