Cetoex News – Binance Coin (BNB) and Ripple (XRP) have both seen their values collapse recently as both are now locked in the sights of the Securities and Exchange Commission (SEC). Ripple (XRP) has been part of a long-awaited ongoing lawsuit from the SEC that said the project’s XRP coin should be classed as a security. Binance is now facing the same accusation for its BNB token.
Binance Coin (BNB) Rattled by SEC Investigation
Binance Coin (BNB) has seen its value drop after the threat of a Ripple-style investigation by the SEC. The regulators are investigating whether the BNB release constitutes the same definition of security. The Binance CEO has said that Binance Coin (BNB) is not a security but Ripple executives said the same and are still locked in a long-term lawsuit. The bad news continued for Binance, with a Reuters claim that the exchange laundered “at least $2.35bn in illicit funds”. The path ahead could be rough for Binance Coin (BNB) if Ripple loses its SEC case. It doesn’t seem like there is major room for growth for the Binance Coin anytime soon.
Ripple (XRP) Faces a Big Week with the Hinman Ruling
Ripple (XRP) faces a big week that could determine the coin’s near-term price action. The former SEC Director Hinman was on record saying that Bitcoin and Ethereum were not securities, but the SEC tried to shield those comments due to client-attorney privilege. A ruling in favour of Ripple could push the stock higher.
Is Binance dropping XRP?
Coinbase, Bittrex, Binance, and many other major crypto exchanges have dropped or suspended the XRP token in the wake of the SEC’s legal action against Ripple Inc.
NEWS BY – CETOEX NEWS