Coinbase Will Back Ripple in Ripple-SEC Case

In 2020, the SEC sued Ripple Labs for selling XRP as unregistered securities, a case that has seen many crypto advocates support Ripple, including SpendTheBits, a crypto payments app that uses XRP, and with the new filing, Coinbase has joined the list of crypto lobbyists to help Ripple win its case against the SEC.

In its argument, Coinbase questioned whether the SEC offered "fair notice" before commencing its enforcement action, delving into the industry's widespread perspective on whether the government has not provided clear advice to firms in the process.

“Given the absence of SEC rulemaking for the cryptocurrency industry, the question of whether the SEC has given fair notice before bringing an enforcement action against sales of one of the thousands of unique digital assets will often be highly fact-intensive, which makes it particularly ill-suited for adjudication on summary judgment,” said Coinbase in the filing.

Source: https://mycryptoparadise.com/coinbase-to-support-ripple-in-ripple-sec-case/