SEC has no jurisdiction over XRP futures contracts, Bitnomial platform claims
Brad Garlinghouse, the CEO of U.S. fintech decacorn Ripple, pledges support for Chicago-based derivatives exchange Bitnomial as it preemptively sues the SEC for its yet another attack on XRP. One of the vendors of XRP futures contracts, Bitnomial, seeks a declaration from Illinois federal district court to avoid a"compounding regulatory burden."In its adamant anti-crypto policy, the U.S.
This is about future contracts and who has jurisdiction over the trading of futures contracts. There is no question there is a regulator here. But should it just be the CFTC, or should it be jointly the SEC and CFTC? I am not aware of any litigation out there that tackles this issue of the security future component and seeks a declaration from that perspective
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