Main navigation

Pro-Ripple Lawyer Highlights Monumental Day for Crypto Due to These Three Events

Thu, 06/08/2023 - 16:36
article image
Tomiwabold Olajide
Historic dates for crypto highlighted by pro-XRP lawyer
Pro-Ripple Lawyer Highlights Monumental Day for Crypto Due to These Three Events
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

XRP enthusiast and crypto lawyer Bill Morgan has highlighted a monumental day for cryptocurrencies based on upcoming events.

Morgan noted that Binance's response to the motion of the SEC for temporary restraining orders is due on June 12, with the hearing on June 13.

Interestingly, the date for the hearing, June 13, coincides with the day the Hinman documents are to be released and the day the House Financial Service Committee will discuss the future of digital assets. Morgan refers to this date as monumental for crypto.

The XRP enthusiast highlights the possibility of another crucial event coming up on the aforementioned date, but memory fails him. 

This week, the SEC filed 13 charges against the Binance crypto exchange and its CEO, alleging the company failed to register as an exchange and broker-dealer.

The SEC also moved to obtain a temporary restraining order to freeze the Binance.US assets.

The recent SEC actions have sparked reactions in the crypto market. Ripple General Counsel Stuart Alderoty criticizes the SEC, saying the allegations in the lawsuits are "unproven."

"The allegations in these suits are just that – unproved. The SEC – despite what Chair Gensler pretends – does not have a magic regulatory wand that it can just wave and say tokens are securities. Looking forward to how the Courts and Congress will take this."

Latest developments in Binance, Coinbase lawsuits

James K. Filan recently shared the update that the SEC v. Coinbase case has been assigned to Judge Jennifer H. Rearden in the Southern District of New York.

Coinbase's chief legal officer, Paul Grewal, also provided the update that the Third Circuit has issued a short order in Coinbase's mandamus action. The court noted the SEC's suit against the exchange and asked the regulator whether this implied it had decided to deny the pending petition for rulemaking. The SEC has seven days to respond.

XRP Community Reacts to Latest SEC Action Against Coinbase

Meanwhile, in the Binance case, SEC Chair Gary Gensler has been asked to recuse himself from the case given that he offered to be an advisor to the crypto exchange in 2019.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.