Ripple and Coinbase use Binance court ruling to challenge SEC crypto regulation

Coinbase and Ripple Labs are using a recent court ruling to challenge the U.S. SEC's regulatory stance on cryptocurrencies. The court previously ruled that the SEC failed to prove that BNB's secondary sales were securities in the Binance case, winning legal support for Coinbase and Ripple. In the past few days, Coinbase and Ripple have pointed out in their respective case filings that there is a lack of clarity in how cryptocurrencies are regulated. Coinbase emphasized that the SEC needs to conduct rulemaking to clarify the legal status of digital assets, while Ripple pointed out that the ruling shows that handling the crypto industry on a case-by-case basis may not be the most effective approach. This ruling has exacerbated legal uncertainty in the industry, prompting all parties to accelerate the search for confirmation and guidance from the courts and the appeal process. The SEC's legal disputes with Ripple, Coinbase and Binance are still ongoing, and future scheduled meetings are expected to have an important impact on the progress of these cases. (The Block)