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Cardano Founder Wants Truce With XRP Community, Binance Silently Changes Terms of Service, Ripple Top Lawyer Slams SEC Hypocrisy: Crypto News Digest by U.Today

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Mon, 12/06/2023 - 16:35
Cardano Founder Wants Truce With XRP Community, Binance Silently Changes Terms of Service, Ripple Top Lawyer Slams SEC Hypocrisy: Crypto News Digest by U.Today
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Here are the top three news stories over the past weekend presented to you by U.Today, check them out!

Cardano founder wants truce with XRP community

After years of not being so friendly with the XRP community, Cardano founder Charles Hoskinson made a surprising move and offered peace to fans of the Ripple-affiliated token. Previously, Hoskinson has not been shying away from expressing his disfavor toward XRP; back in December 2022, he said that the token has "no technical value" and that its community is "toxic and petty," but now such a narrative from the Cardano founder apparently seems to be coming to an end. However, some XRP community members saw this move as hypocritical based on the new designation of Cardano's native token, ADA, as a security by the SEC.

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Binance silently changes Terms of Service: Details

Last week, the Terms of Service of the world's leading crypto exchange, Binance, saw a significant change that affects all platform users. According to the new terms, Binance now holds exclusive authority to determine which digital assets are listed on their platform, and it reserves the right to add or remove these assets based on its discretion. Moreover, if a user still has a delisted digital asset in their Binance account after a certain period, Binance reserves the right to convert these digital assets into a different type of digital asset of their choice. In addition to this, Binance is not obliged to notify users of this conversion in advance, and it absolves itself of any liability linked to such conversions. The new terms also note that Binance may change the order size available for each digital asset.

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Ripple's top lawyer slams SEC's hypocrisy

Ripple general counsel Stuart Alderoty has recently taken to Twitter to criticize the SEC's hypocrisy, emphasizing its stance on untrue statements or omissions in registration statements. As noted by Alderoty, the regulator issues stop orders blocking registration statements when they are untrue. Last week, the SEC accused Coinbase of operating as an unregistered securities exchange, broker and clearing agency. According to the agency's complaint, Coinbase has been illegally facilitating the buying and selling of crypto asset securities at least since 2019. Alderoty highlighted the SEC's inconsistencies, saying that the statement "I am not registering as a broker-dealer, a securities exchange, or an ATS because I am not trading securities" should have been blocked if the SEC believed it was untrue.

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