Ripple case critical amid SEC crackdown on Coinbase and Binance, say lawyers.

The judges overseeing lawsuits involving Coinbase and Binance are likely to closely monitor the outcome of the SEC v Ripple case, according to crypto lawyers. The SEC has been locked in a legal battle with Ripple since December 2020, alleging that the company has been offering unregistered securities via XRP since 2013. On June 6, the SEC filed a lawsuit against Coinbase alleging similar violations, while also filing a lawsuit against Binance a day earlier. Lawyer James Murphy, known as “MetaLawMan” on Twitter, has explained that a favorable outcome for Ripple could “undermine the entire basis for the SEC’s case” against both Coinbase and Binance. However, he also warned that any decision made by Judge Torres in the Ripple case would not be binding for the recent filings. Pro-XRP lawyer John Deaton believes that the SEC filed the new cases as a precaution, in case there is an unfavorable outcome in the Ripple case. Lawyers believe that the outcome of the Ripple lawsuit could influence the Binance and Coinbase cases.