Cryptocurrency investors expect critical developments in the next 36 hours after a string of lawsuits filed by the US Securities and Exchange Commission (SEC) against two major crypto platforms Coinbase and Binance last week.
The SEC accused Coinbase, the largest crypto platform in the US, of operating as an unregistered broker, exchange and clearinghouse, and allowing its clients to buy and sell crypto assets, which are essentially unregistered securities.
On the other hand, Binance, the world’s largest crypto exchange, faced a lawsuit last week alleging that the SEC and its founder, Changpeng Zhao, operated a “net of deception” and violated various securities laws.
Here are the important events to watch in the next 36 hours and when they will happen in UTC time:
- At 21:00 UTC tomorrow, Binance is expected to file its objection against the SEC’s request for an order to freeze assets of Binance US, the American arm of the global cryptocurrency exchange. This important document will outline Binance’s stance and arguments against an asset freeze.
- A session is scheduled for tomorrow at 6 PM to address the SEC’s request to freeze the assets of Binance US. This court session will provide both parties with an opportunity to present their case and present their arguments before a judge. The outcome of this trial is likely to have far-reaching implications for Binance and its operations in the United States.
- In addition, the world of Bitcoin and crypto money will be closely following the US inflation data, which will be announced at 12:30 UTC tomorrow.
- Finally, tomorrow is the last day for the uncensored release of the Hinman documents, which are considered important to the Ripple-SEC case. It is said that the published documents will be important for the general cryptocurrency market, as well as the lawsuit between Ripple and the SEC.
*Not investment advice.