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Breaking: #Coinbase Challenges #SEC Denial: Filing Closing Brief in Rulemaking Dispute

🔵Today Coinbase Filed closing brief challenging SEC's denial of rulemaking petition in Third Circuit.

🔵Core of case revolves around a single sentence in SEC order lacking reasoned decision-making.

🔵Argues SEC lacks proper authorization from Congress to claim broad jurisdiction over new industry without clear rules.

🔵Third Circuit's consideration appreciated; commitment to advocating for industry clarity reiterated.

#Crypto #CryptoNews #TheSEC #Legal #Law #Regulation
🔥A TimeLine of #Ripple vs. SEC lawsuit🔥

#TheSEC #RippleWon #Crypto #Judgetorres #XRP

1️⃣ Dec. 21, 2020: SEC sued Ripple, Brad Garlinghouse, and Larsen for unregistered securities.

2️⃣ Dec. 28, 2020: Coinbase delisted XRP due to legal issues and uncertainty.

3️⃣ March 3, 2021: Larsen and Garlinghouse challenged the SEC’s fair notice on XRP.

4️⃣ July 13, 2023: Ripple Labs won; Judge Torres ruled XRP not a security.

5️⃣Aug. 9, 2023: SEC appealed decision that XRP wasn’t a security.

6️⃣Oct. 3, 2023: Judge Torres denied SEC’s appeal due to insufficient evidence.

7️⃣Oct. 4, 2023: Court found SEC vs. Ripple case different from Terraform, LBRY.

8️⃣Oct. 19, 2023: SEC dismissed all charges against Ripple's CEO and Chairman.

9️⃣March 25, 2024: SEC requested $2 billion in fines from Ripple.

🔟April 22, 2024: Ripple opposed SEC’s $2 billion fine, offered $10 million.

1️⃣1️⃣Aug. 7, 2024: Federal judge ordered Ripple Labs to pay $125 million and comply.