JPMorgan believes XRP lawsuit outcome will help Coinbase against SEC


A report from banking giant JPMorgan noted that the latest outcome from the XRP lawsuit will surely bring some positive impacts for the Coinbase crypto exchange against the SEC’s charges. 

Coinbase is an American crypto exchange. At the present time, this exchange is fighting against the United States Securities Exchange Commission (SEC) over several alleged charges. Early last month, the SEC body sued Coinbase over providing unregistered securities offerings and running an unregistered national securities exchange. 

Recently, JPMorgan’s analysts published a report on the Ripple vs SEC lawsuit and said that it will bring a net positive impact for Coinbase in the legal dispute. 

According to analysts, there are 13 crypto assets that are not securities on behalf of the Ripple vs SEC lawsuit. And these 13 crypto assets trade on the Coinbase exchange. 

“If the Ripple lawsuit continues, it will seem more difficult for the SEC to show that the 13 tokens are securities and Coinbase is an unregistered securities exchange, thus exempting it from certain future licensing and regulatory requirements,” the JPMorgan report read.

Analysts noted that the XRP lawsuit outcome reduces risk possibilities for the Coinbase exchange but still, the majority of the problems will remain unchanged for it, as there are some other charges also.

Alongside the Coinbase vs SEC suit, analysts noted that the XRP lawsuit outcome surely brings better clarity for the whole crypto sector and creates a better opportunity to evolve with some legal clarity.

Coinbase suspends crypto staking

Just a couple of days ago, Coinbase exchange suspended crypto staking services for customers belonging to California, New Jersey, South Carolina, & Wisconsin. 

Until the completion of the Coinbase vs SEC case & other additional proceedings in the corresponding jurisdictions, the crypto firm will not be able to provide crypto staking services in the mentioned jurisdictions.

On the same day, following the Ripple vs SEC outcome, Coinbase re-listed the XRP coin on the platform. And also legally struggling crypto platform BinanceUS relisted XRP coin. 

Read also: Cardano (ADA) secures high-defi network activity, following Ripple’s win against SEC