Unfortunately, $COIN is rapidly losing as regulatory unclarity still persist in the space, and even positive $XRP decision in court cannot save it
, after its years of operation and widespread adoption, was not categorized as a security, it would set a precedent. This could potentially shield other digital assets and their token offerings from similar regulatory scrutiny.
Thus, the pro-Ripple ruling indirectly bolstered Coinbase's stock, signaling relief to other crypto businesses fearing regulatory crackdowns. The sentiment was that if the SEC could not establish as a security, other entities like Coinbase might have a more robust defense against any accusations of similar nature.However, the jubilation was short-lived. Despite the initial pump, Coinbase's stock soon retreated from its gains. One can speculate that while the Ripple ruling provided momentary optimism, it did not entirely alleviate broader concerns about the regulatory environment for crypto enterprises.
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