Cryptocurrency derivatives trading platform, Bitnomial, has sued the US Securities and Exchange Commission (SEC) over its regulatory authority. The lawsuit was filed because the US SEC claimed that XRP futures contracts are “security futures,” falling under the joint jurisdiction of the SEC and the Commodity Futures Trading Commission. It stated that if Bitnomial continued to list XRP futures, it would be breaking Federal Securities Laws. The SEC also asked for additional requirements before listing the contracts, such as registering as a national securities exchange.
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