Coinbase, a cryptocurrency exchange headquartered in the United States, has <a href="https://help.coinbase.com/en/coinbase/trading-and-funding/cryptocurrency-trading-pairs/ripple-sec" target="_blank" rel="nofollow noopener">joined</a> the list of companies supporting <a href="https://www.cryptoknowmics.com/news/ripple-expands-in-europe-with-on-demand-liquidity-in-france-sweden">Ripple Labs</a> in its lawsuit filed with the Securities and Exchange Commission (SEC), which could be resolved as early as the first half of 2023.
<h2>Ripple SEC Case - A Textbook Definition</h2>
According to Coinbase's chief legal officer Paul Grewal, the case is a classic example of exactly how significant fair notice is and requested the presiding court permission to write an amicus brief. Grewal further stated that the U.S. Constitution forbids authorities from condemning conduct as a legal violation without ensuring fair notice that the activity is wrong.

https://twitter.com/iampaulgrewal/status/1587210642917707776

In the same vein, Coinbase said that the SEC's uneven enforcement strategy has led to uncertainty for industry businesses. Additionally, the statement noted that the present SEC registration rules for national securities exchanges are now inappropriate to how digital asset networks operate.
<h2>Members of Registered Securities Exchanges</h2>
In accordance with existing SEC rules, however, only broker-dealers are permitted to be members of registered securities exchanges. Therefore, retail customers cannot directly trade assets on exchanges without using broker-dealers that charge transaction fee and add intermediation risks that could be avoided by digital asset trading platforms, again, to the benefit of customers.

According to the complaint, <a href="https://www.cryptoknowmics.com/news/ripple-partner-makes-next-big-step-after-officially-joining-case">Ripple</a> and other companies have been the target of considerable enforcement attention, essentially comparable products or services, and have presumably been subject to none.
<h2>Ripple Accused of Selling Unregistered Securities</h2>
Additionally, the submission addressed the claim that cryptocurrencies may be handled as conventional securities, claiming that the majority of cryptocurrencies do not reflect ownership interests or pay dividends in the same manner that shares can.

In a court battle that lasted over two years, the SEC accused Ripple Labs of selling unregistered securities when it sold its Ripple coins. In a session at DC Fintech Week on October 11, Ripple CEO Brad Garlinghouse predicted that the matter would be resolved by the middle of 2023 but acknowledged that predicting an exact conclusion would be difficult.

Coinbase Files Petition in Defense of Ripple in SEC Case

Coinbase has joined the list of companies supporting Ripple Labs in its lawsuit filed with the Securities and Exchange Commission (SEC)

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Coinbase Files Petition in Defense of Ripple in SEC Case

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