The rebuke of the Ripple ruling by U.S. District Judge Rakoff in denying a motion to dismiss the SECGov’s case against Terraform Labs could complicate coinbase’s defense against the regulator, according to Berenberg. $COIN willcanny99 reports.
on Monday, investment bank Berenberg noted in a research report Tuesday.
"In his ruling, U.S. District Judge Jed Rakoff of the Southern District of New York rejected Judge Torres’ distinction between institutional sales and sales to retail investors on crypto exchanges, which he characterized as a misinterpretation of the Howey test used to determine if an asset is a security,” analysts led by Mark Palmer wrote., the analysts wrote.
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