Industry Experts Say Coinbase and Binance Will Win Against SEC – The Reasons

The post Industry Experts Say Coinbase and Binance Will Win Against SEC – The Reasons appeared first on Coinpedia Fintech News

A recent podcast discussion between renowned crypto attorney John Deaton, ETF specialist Dave Nadig, and top-tier analyst Scott Melker, popularly referred to as Wolf of All Streets, got into the tides turning in favor of crypto giants against the notorious Securities and Exchange Commission (SEC).

Grayscale’s Game-Changing Win

Scott Melker reasoned that the recent monumental triumph of Grayscale over the SEC will compel the commission and its Chairman, Gary Gensler, to reconsider their approach. The victory is significant, particularly when acknowledging that the SEC previously couldn’t justify its decision to refuse the Bitcoin ETF, even as it greenlighted other Bitcoin futures ETFs. Such inconsistencies could tarnish the SEC’s reputation, prompting other regulatory bodies to question its credibility, says Scott.

SEC’s Unsteady Footing

Highlighting the ongoing trajectory, Deaton pointed out that the SEC is on unstable ground, given the string of recent defeats, including that against Ripple. Legal experts and even certain judges have increasingly labeled the SEC’s actions as “random and unfounded.” Such a stance suggests that the crypto industry isn’t merely defending its interests but is actively reshaping the narrative in its favor.

Drawing from the prevailing patterns, Deaton ventured that Coinbase might soon shrug off the lawsuit while Binance might reach a settlement with the SEC. Contrary to the views of ex-SEC member John Reed Stark, Deaton emphasized that relying on DoJ investigation insights in the ongoing case might not be the most prudent move.

Beyond Coinbase and Binance

While the SEC’s recent actions have led to setbacks, the commission remains undeterred. They persistently file securities claims against various entities operating with digital assets. One such entity under the SEC’s radar is Impact Theory. For those unfamiliar, Impact Theory is an initiative designed to empower people through content and education, leveraging digital assets to augment its reach and capabilities.

Anyways, crypto companies aren’t just passive players but could be formidable opponents against the SEC’s wicked fire. The stakes are high, and the world watches closely as these battles shape the future of the digital economy.