Bitnomial, a crypto derivatives exchange, has sued the U.S. SEC, challenging its classification of XRP futures as "security futures." Bitnomial argues that XRP, following Ripple's legal precedent, should not be labeled a security and that its futures should fall under the sole jurisdiction of the Commodity Futures Trading Commission (CFTC). The lawsuit opposes the SEC's demand that Bitnomial comply with additional regulations, such as registering as a national securities exchange. This case may establish a key precedent for the regulation of crypto derivatives in the U.S.
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USDT
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$0.999729
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GRAM
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$73.54
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