ChainCatcher news, Coinbase and Ripple Labs hope to leverage a recent ruling in their case with the U.S. Securities and Exchange Commission (SEC), which favored Binance in its handling of secondary sales of cryptocurrencies.In the past few days, Coinbase and Ripple have pointed out the ambiguities surrounding cryptocurrency regulation in the filings of their respective cases. Both companies highlighted to the judge that the SEC's ruling against Binance last week rejected the agency's claim that the secondary sale of BNB constitutes a security.Coinbase stated in court documents on Tuesday: "Binance further supports the call for the SEC to establish rules regarding digital assets. As Coinbase explained, there is a need for rules here because the SEC has adopted a novel and broad, yet still uncertain, interpretation of securities law—one that it has never coherently explained but is attempting to retroactively impose on the digital asset industry through aggressive enforcement actions."The SEC's cases against Coinbase, Ripple, and Binance are ongoing. The agency's case against Binance is scheduled for a scheduling conference on July 9.

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal stated on X that Coinbase has filed a motion with Judge Katherine Polk Failla seeking an appellate review of the case brought against it by the SEC.Grewal said: "Liability should not depend on which court you are sued in or which judge is assigned to your case. Earlier today, we submitted a notice regarding the decision made by Judge Jackson in the case against Binance. This decision explicitly rejected the SEC's claim that secondary market trading of BNB tokens on the Binance trading platform constitutes an investment contract. Two district courts reached completely opposite views on whether these transactions could constitute securities transactions while analyzing economically identical transactions on the two major U.S. cryptocurrency exchanges. The SEC's litigation-centric approach to cryptocurrency regulation has resulted in market participants now facing different rules, not only in different courts in this region but also in various federal courts across the country."

ChainCatcher news, according to Blockworks, during a four-hour hearing held on Monday, Binance faced off against the U.S. Securities and Exchange Commission (SEC) in Washington, attempting to dismiss the charges brought against the exchange, its U.S. subsidiary, and former CEO Changpeng Zhao last summer. Binance's defense team called for the invocation of the major questions doctrine. This means that the court would not interpret congressional statutes as allowing agencies to make determinations on issues of "significant" political or economic importance.Binance wrote in its motion to dismiss: "Given the broad nature of the SEC's statutory arguments, the stakes here are even greater than the significant impact on the cryptocurrency market." Judge Amy Berman Jackson acknowledged on Monday that the case has implications for the entire cryptocurrency industry. However, she still "leans against" believing that the major questions doctrine applies to this case.

ChainCatcher news, the chairman of the Commodity Futures Trading Commission (CFTC) stated that (when it comes to the trading platform Binance) this seems to be a very obvious tax evasion case, and we need to intervene actively and act quickly, as this is an ongoing fraudulent activity. The evidence regarding this case is self-evident and will be actively debated in court. (source link)

ChainCatcher news, the U.S. Commodity Futures Trading Commission (CFTC) stated that it will seek to impose a permanent trading and registration ban on Binance in the case. (Source link)