Two of the most talked-about cryptocurrencies, Ripple (XRP) and Binance USD, have been at the forefront of the conversation as the cryptocurrency market has recently seen a lot of volatility. While Binance USD has been in the spotlight for its impending token launch, Ripple has been involved in a legal dispute with the U.S. Securities and Exchange Commission (SEC). In this post, we’ll examine Ripple and Binance USD’s current situations in more detail and discuss the implications for investors.
Ripple (XRP) Undaunted As Legal Battle With SEC Climaxes
Ripple, the company behind the XRP cryptocurrency, has been in the news for the wrong reasons lately. The SEC filed a lawsuit against Ripple, alleging that the company had sold XRP as an unregistered security, and as a result, the company and its executives have been fighting a legal battle with the SEC.
However, against the expectation of many, the lawsuit has not had a negative impact on the price of XRP, as its value appears to be rising. It was initially expected that investors would become wary of investing in the cryptocurrency due to the legal uncertainty surrounding it.
Ripple’s legal team has been working tirelessly to defend the company, but the outcome of the lawsuit remains uncertain. Albeit, the case is expected to be finalised in the coming days, with the cryptocurrency world hoping that XRP surmount this daunting hurdle.
Notwithstanding, investors are keeping a close eye on the lawsuit, as its outcome could have far-reaching consequences for the cryptocurrency industry as a whole. If the SEC wins the lawsuit, it could set a precedent for other cryptocurrencies, potentially making it more difficult for them to operate in the United States.
Tron (TRX): Is ‘VolTRON’ Still Sleeping?
Tron (TRX) has experienced a decline in its price recently. The cryptocurrency has dipped by over 3% in the last 7 days and has depreciated by more than 6% in the past one month. However, it has risen by 0.17 as at press time and has a market capitalisation of $5,827,652,817.
Many expected Tron to have gone on to become a bigger force in the market. However, due to negative market forces, its growth has seemingly been stunted. It remains to be seen what surprises Tron will spring up in the coming weeks, as it tries to move up the cryptocurrency pecking order.
Is the US Securities and Exchange Commission (SEC) Being Overbearing?
In the wake of legal battles with a number of financial institutions, many industry observers are of the opinion that the SEC might indeed need to apply some breaks. According to them, in contrast to other nations, the United States has not yet developed a thorough framework or set of laws that permit cryptocurrency and blockchain firms to function without concern for being targeted by regulators.
Since the demise of the cryptocurrency exchange FTX last year, the U.S. SEC has increased legal actions against businesses. The SEC recently issued a Wells notice to Coinbase, alerting the firm that it had discovered possible violations of American securities law. The SEC also announced charges of fraud and unregistered securities against Justin Sun, the creator of a cryptocurrency, and famous people who supported the digital coins he was promoting.
A number of other businesses, including Ripple, Genesis, and Gemini, are presently involved in legal disputes with the SEC.
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