Judge Analissa Torres recently ruled that Ripple’s XRP is not a security. The decision confirmed the victory of the crypto company against the SEC. Some believe that this is a step forward that could benefit companies facing the same regulatory setbacks that Ripple experienced.
Could Coinbase take advantage of Ripple’s win?
According to several analysts, Ripple’s victory against the SEC should benefit the crypto industry. If there is one firm in particular that could benefit from this positive development, it is Coinbase. It is in all what JP Morgan recently said in a recent study.
Indeed, the banking giant believes that this development is fundamentally positive for the crypto firm. This, due to the leadership of the company and its excellent reputation in the crypto industry.
“The decision appears to be, on the face of it, a victory for Coinbase in its recent lawsuit against the SEC. We believe Coinbase is best positioned to benefit from improved trust and regulatory clarity, given its market-leading position and respected reputation in the industry,” indicates the study.
What JPMorgan is basically saying is that the exchange could reap the laurels of Ripple’s three-year lawsuit. Thus, the decision not to recognize XRP as a security could be of interest to cryptos traded on Coinbase. In particular, the 13 assets for which the company has recently come under the wrath of the SEC.
According to JP Morgan, Judge Analissa Torres complicated the rest of the proceedings for the SEC. From now on, it would be a little more complicated for him to demonstrate the movable nature of the assets managed by the platform.
This projection significantly increases JP Morgan’s outlook for the medium to long-term dynamism of the crypto ecosystem. This is to some extent encouraging for the evolution of the crypto market, which could also regain some stability.
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