Securities

The suit is the latest in a string of dropped enforcement cases by the SEC.

Memecoins aren’t securities, the agency said on Thursday.

More tokens could be added to exchanges, increasing their trading revenue. This might also open the floodgates to crypto firms’ IPOs in the U.S.

Receipts Depositary Corp. already offers bitcoin and ether-backed securities and is now looking to expand its product suite by adding XRP.

In a Tuesday filing, lawyers for Coinbase argued that their case offered “the single best opportunity” to decide how to regulate secondary crypto trading.

A motion filed earlier this week rejected several of Kraken’s defenses and complained that the exchange was “trying to re-litigate the same issues repeatedly.”