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Also Read: Coinbase Receives “Show Cause” Order From 10 US States advertisement US SEC Fails To Provide Clear Rules For Crypto Industry United States Court of Appeals for the Third Circuit noted that the SEC has filed a lawsuit against Coinbase and other crypto firms without having ruled on Coinbase’s petition. The court asked the commission to submit a letter within 7 days and provide an answer to the pending petition for rulemaking. As per the order, U.S. SEC needs to decide whether it denies Coinbase’s petition for rulemaking. The court also inquired about the additional time Commission needs to decide whether to grant or deny that petition. Paul Grewal, Coinbase’s Chief Legal Officer referring to the court order stated that they believe that the SEC could not be proceeding with litigation against the industry. However, this depends if the commission had not decided to deny the rulemaking petition. Read More Crypto News Her...

Also Read: Ripple Secures Another Win Against US SEC; Hinman Docs To Go Public advertisement XRP Price Zooms Over Ripple Win XRP price registered a spike of more than 7% in the last 24 hours. Its 24 hour trading volume jumped by 93% to stand at $1.45 billion. XRP is trading at an average price of $0.447, at the press time. It is important to note that the current XRP price jump comes in when the court rejected one of the US SEC’s motions in the XRP lawsuit. Source: CoinMarketCap As per the report, Judge Analisa Torres declined the commission’s request to seal infamous Hinman speech linked documents. The US SEC wanted to seal the documents claiming that it reflects non-public deliberations by the agency’s officials. However, the court order will help the defendant to make the memos go public. Read More XRP News Here… Also Read: Ripple In Lead As US SEC Holds Bad Win Record On Howey Test? Recommended A...

After a series of attacks against crypto exchanges Coinbase, Bittrex, Kraken, and other entities related to crypto, the securities regulator has set eyes to bring action against Binance or Binance.US. advertisement Binance In the US SEC Crosshairs Crypto exchange Binance has been under heightened scrutiny since the collapse of FTX. In March, the U.S. CFTC filed an enforcement action against Binance and CEO Changpeng “CZ” Zhao in March for violating commodities laws and operating an illegal derivatives exchange. The DOJ is also probing Binance for several matters, including violating sanctions against Russia. Andrew in a tweet on May 8 said the SEC is almost close to taking action against Binance.US or Binance. The SEC may also bring changes against Binance CEO “CZ” for violating securities laws and failing to comply with the anti-money laundering (AML) rule. He warned that the US Dept. of Justice (DOJ) could also be part of investigations...