As the U.S. Securities and Exchange Commission (SEC) continues its crackdown on the cryptocurrency industry, several key lawsuits are expected this week.
One of the most anticipated decisions is the outcome of the lawsuit between Grayscale Investments, the world's largest digital asset manager, and the SEC. The SEC alleges that Grayscale violated securities laws by offering unregistered shares of Bitcoin Trust and Ethereum Trust to investors. Grayscale argues that its products are not securities, but rather trusts holding underlying assets.
As a matter of fact, it was expected to be concluded today, but a decision is no longer expected for today. A decision is likely to be announced on Friday, the other day the District of Columbia Circuit makes its most frequent decision.
Secondly, the expected development is Ripple's legal response after the SEC announced its intention to appeal the judge's decision that XRP does not qualify as a security when sold on exchanges. Ripple has to submit its response by August 19 (Saturday).
Finally, Binance US has requested a protective order from the court against the SEC in its application filed today. It seems likely that a development on this issue will occur this week.
*Not investment advice.
