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Also Read: Binance’s CZ Addresses Crypto Crash As Long Liquidation Breaches $343 Million Custodia Case Crucial For Crypto Industry In the latest U.S. district court ruling, Judge denied the Federal Reserve’s motion to dismiss a lawsuit filed by the Custodia bank. However, the court rejected the bank’s request to compel the Fed to grant its master account and membership. Custodia Bank can now pursue its claims through normal channels. Attorney John Deaton, Amicus curiae in the XRP lawsuit stated that the Custodia case has arguably become the important case despite Ripple and Coinbase’s pending cases. Highlighting Chokepoint 2.0 with the failure of multiple banks like Silicon Valley Bank, Signature Bank, and other banks, he stated that crypto firms always need banking for on and off ramps. Read More XRP News Here… He mentioned that the Custodia Bank holds a very revolutionary idea of not engaging in fractional banking maintaining funds in reserve. The attorney stated th...

Also Read: US SEC Replaces Introductory Disclaimer; Another Win For Ripple ? advertisement New Twist In XRP Lawsuit? Attorney Jeremy Hogan shared a court filing from the Slack Technologies v. Pirani case filed in the U.S. Supreme Court. In this case, Slack argues that the term “such security” refers to a security issued pursuant to an allegedly deceiving registration statement. On the other hand, Pirani claims that the term may enclose a security not registered under an allegedly deceiving registration statement. Pro XRP lawyer Hogan mentioned that this case is similar to Ripple ’s XRP in the secondary market if the token was sold as an investment contract. He added that XRP does not maintain the status of being a “security” outside the conditions of the initial “contract”. As per the court filings, Section 11 of the 1993 Act requires a plaintiff to prove that he/she bought securities that are registered under...