• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Ripple

Coinbase And Ripple Playing Game Of Poker With The SEC, CNBC Correspondent Says

Mike D. by Mike D.
2 weeks ago
in Ripple
Reading Time: 3 mins read

Amid deep regulatory uncertainty in the United States, several cryptocurrency firms consider sailing to more welcoming atmospheres. Top US-based firms Ripple and Coinbase, who’ve been cross-chairs with the Securities and Exchanges Commission (SEC), have already hinted at possible relocation. Reacting to the issues, two CNBC correspondents, Ryan Browne, and Arjun Kharpal, weighed in.

According to the journalists, crypto companies like Ripple and Coinbase are playing a poker game with the SEC.

Crypto Firms Threaten Relocation To Ease Regulatory Pressure

The regulatory atmosphere in the US crypto space has become supercharged over the past few months as the SEC accelerated their crackdown moves against crypto companies. The SEC turned its attention to Coinbase, Binance, Bittrex, and Kraken amid long-running litigation with Ripple.

Related Reading: Why Litecoin Is The Most Undervalued Asset in Crypto

These firms aren’t comfortable with the increased enforcement threats from the regulators as they complain the SEC has taken the regulation-by-enforcement approach without providing any clear guidelines for them. 

Coinbase and Ripple even threatened to relocate their business outside the US, hoping regulators would reconsider their hawkish stance.

The CNBC correspondents further noted that Ripple executives joined forces to publicly criticize the SEC and gain support from the broader crypto community. 

Prioritizing Politics Over Policy Is Unfavourable for the Economy, Ripple CEO Says

In their report, Browne and Kharpal quoted Ripple CEO Brad Garlinghouse, who, as a US citizen, expressed his disappointment with the situation. 

In a statement, Garlinghouse said, “The US is getting passed not just by a little bit but by a lot.” 

Garlinghouse claims more challenging is the fact that the US considers politics over policy, an unfavorable decision for investors. On most occasions, the SEC repeatedly argued that nearly all crypto tokens in the market constitute securities. 

Related Reading: Power Play: Top 5 Cryptos Set To Ignite The Week With Decent Gains

That was why the regulator sued Ripple in December 2020, accusing the firm of offering XRP as an unregistered security. However, Ripple has continued to contest this issue in court with the SEC, hoping to get a favorable ruling soon.

Ripple
XRP goes all green l XRPUSDT on TradingView

The SEC did not only point fingers at Ripple, as it recently came at Coinbase, issuing a Wells Notice alleging possible securities law violation. 

Crypto exchange Kraken suffered the same fate and had no choice but to discontinue its staking services in the US with a settlement of $30 million. 

The SEC claims its moves are to protect Americans from crypto investment risks. However, pro-XRP lawyer, John Deaton, asked the SEC chief, Gary Gensler, to stop claiming to protect the American public against crypto.

These regulatory actions have attracted reactions from industry figureheads, including Cardano founder Charles Hoskinson. Hoskinson urged crypto enthusiasts to support pro-crypto policies in the next elections to stop regulatory issues.

Featured image from Pixabay and chart from TradingView

Tags: cnbccoinbaseRipplexrpusdt
Tweet123Share196ShareSend
Mike D.

Mike D.

Mike is an enthusiastic online journalist. He is curious about how the tech world works, and he is always amazed by the abrupt growth of blockchain technology.

Related Posts

Ripple Fate Hangs: Leading Lawyer Warns Of Consequences in SEC Lawsuit

Leading Lawyer Warns Of Consequences For Ripple In SEC Lawsuit

2 weeks ago
Crypto

Ripple Acquires Crypto Custody Firm Metaco In $250 Million Deal

2 weeks ago
Ripple XRP

Ripple (XRP) Legal Defender Lauds Judge Torres’ Ruling As A Victory For The People

2 weeks ago
Ripple (XRP)

Ripple CTO Reveals Facts About Present XRP Burn Debate

2 weeks ago
Ripple XRP Transactions

Ripple Transaction Count Down 65%, Will This Affect XRP Prices?

2 weeks ago
Ripple (XRP)

Pro-XRP Lawyer Weighs In On The Ongoing Lawsuit Ruling

3 weeks ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bware Labs Launches $INFRA Token, making high API...

    8 hours ago
  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    11 hours ago
  • Coinbase launches campaign to educate public on blockchain...

    12 hours ago
  • Utility Coins like Avorak AI will always outperform memes...

    12 hours ago
  • Expect Tremendous Returns for DigiToads (TOADS), Near...

    12 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.