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The crypto industry has come a long way over the past decade and a half. From a single blockchain to a trillion-dollar industry, the journey has been a tumultuous one. Its inherent volatility notwithstanding, the cryptos have had to deal with stiff resistance from world governments and regulators. Two of the biggest legal battles in the history of cryptocurrencies are currently being waged against Ripple (XRP) and Binance (BNB). There’s mounting evidence that clearly delineates a pattern of persecution of centralized crypto projects by the U.S. government, besides other countries. Kraken, FTX, Coinbase – they’ve all experienced this. On the other hand, decentralized projects like TMS Network (TMSN) have largely remained untouched by them.
Ripple’s (XRP) Legal Battle is Heading for a Climax
Since 2020, even before Ripple (XRP) launched its XRP ledger technology, it has been locked in a legal battle with the SEC. The regulator alleges that Ripple (XRP) tokens are securities and, therefore, must be registered with the commission. SEC was emboldened by the fact that several cryptocurrencies before Ripple (XRP) had decided to settle out-of-court with the SEC rather than engage in a full-fledged legal battle. Ripple (XRP) decided to fight it out. Two years later, the Ripple (XRP) case could be heading for closure in 2023. There have been indications that Ripple (XRP) may come out as the winner in the case.
Just this month, an SEC expert revealed that the agency had admitted that Ripple’s (XRP) price fluctuations had very little to do with the company’s activities in recent years. In fact, much of Ripple’s (XRP) price fluctuations could be explained by Ethereum’s and Bitcoin’s price movements. Legal experts opine that this definitively proves that the Ripple (XRP) tokens are not securities. Win or not, the fact that SEC is hounding centralized crypto exchanges does not bode well for other centralized cryptos.
Binance (BNB) Embroiled in a $1 Billion Lawsuit
Binance (BNB) has been investigated by the U.S. authorities since 2021. Now, it appears that they have finally found enough evidence to mount a full-blown lawsuit against Binance (BNB) and its founder, Changpeng Zhao.
The U.S. CFTC alleges that Binance (BNB) has willfully evaded U.S. laws by actively helping American residents participate in crypto derivatives trading. Binance’s (BNB) employees, under Zhao’s instructions, are accused of having aided their customers in using a variety of resources, including VPNs, to bypass U.S. laws. Making matters worse for Binance (BNB), Reuters published a similar report documenting the exchange’s illegal activities in detail.
Binance (BNB) is not headquartered in the U.S. In fact, Binance (BNB) has not revealed where it’s headquartered. So, it’s difficult to predict how much the U.S. agencies would be able to enforce their conditions on Binance (BNB). Let alone stifle Binance’s (BNB) activities if it loses the case. That said, local investors could become their next target. So, whale investors are avoiding Binance (BNB).
TMS Network (TMSN) Marks the Next Stage in DeFi Evolution
TMS Network (TMSN) is new DEX that comes fresh on the heels of the FTX collapse. Even as the FTX’s legal battle rages on, TMS Network (TMSN) has been making headlines with massive funding and gains. TMS Network (TMSN) is not like any other DEX. Besides cryptos and CFDs, TMS Network (TMSN) also lets its users trade in forex and equities – a first for any DEX.
Unlike FTX, Coinbase, or Binance (BNB), TMS Network (TMSN) has little room for insider trading, and shady behind-the-scenes decisions. That’s because the token holders vote on all major decisions concerning TMS Network (TMSN).
After the collapse of FTX, trust in centralized exchanges is at an all-time low. Today, crypto investors are naturally inclined towards DEXs, which guarantee greater transparency and protection for their funds. TMS Network (TMSN) is currently selling at $0.05 in stage 2 of presale, and has already raised close to $4 million. It’s slated to grow by 7,000% before its imminent launch later this year.
Learn more about TMS Network here:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/@tmsnetwork_io
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
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