Coinbase News: SEC May Reclassify XRP as Commodity, Vermont Drops Suit Against Coinbase

In a potential boost for Ripple and the cryptocurrency market, the SEC is considering a significant shift in its classification of XRP. Meanwhile, Vermont regulators have dropped their legal action against Coinbase, marking a positive development for the crypto industry.

SEC May Reclassify XRP As A Commodity; Vermont Drops Suit Against Coinbase

The SEC is considering reclassifying XRP as a commodity, which could establish a precedent for Ripple in its ongoing case with the SEC. Meanwhile, Vermont regulators have dropped their suit against Coinbase, citing the SEC’s new Crypto Task Force as a reason. This development could also benefit Ripple, as the state financial regulators previously argued that staking services violated securities laws but now no longer hold this position.

DOGINME Surges 162% Following Coinbase’s Roadmap Announcement

DOGINME, a meme coin built on Base, has surged 162% in the past 24 hours following Coinbase’s announcement of adding it to their roadmap. The token, inspired by a playful comment by Farcaster founder Dan Romero, was trading at $0.00106 at the time of writing. Additionally, the meme coin saw a substantial rise in trading volume, which increased by 246%. In the past week alone, DOGINME experienced a 297% price increase, outperforming the global cryptocurrency market, which has declined by 6%. Compared to similar meme coins, which are down by 14%, DOGINME’s performance stands out.