Australia-based attorney, Bill Morgan, has highlighted three upcoming events that are set to happen on the same day: June 13. Morgan thinks the said date will prove “monumental” for the crypto sector.
Important Events To Watch Out For On June 13
Pro-XRP lawyer Bill Morgan observed that Binance is expected to file its response to the U.S. Securities and Exchange Commission’s (SEC) injunction for a temporary restraining order to freeze corporate assets, including cryptocurrencies, held by Binance.US.
The regulator and Binance.US are due back in court on June 13 regarding the matter — the same day the American entity of the global crypto exchange Binance says it will halt the use of fiat and transition to a crypto-only exchange.
Earlier this week, news broke that the SEC is suing Binance, the CEO of the world’s largest crypto exchange, Changpeng Zhao (aka CZ), alleging the sale of unregistered securities, commingling of customer funds and that CZ was “secretly” controlling Binance.US. The SEC also launched a lawsuit against rival U.S.-based exchange Coinbase a day later.
And to boost its emergency motion seeking the freezing of Binance.US’s assets, the SEC also claimed that BAM Trading Services — the operator of Binance.US — and Binance deposited billions of dollars into one account that belonged to Merit Peak, of which Zhao is the beneficial owner.
Curiously, June 13 is also the day the long-awaited Hinman emails are set to be unsealed and the same day the House Financial Service Committee will discuss the future of digital assets. Many believe the committee hearing will mark another possible move toward a bipartisan negotiation on the law that could be the easiest way to take a first step toward U.S. regulation of cryptocurrencies.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, was trading 0.78% higher at $26,727 at the time of writing.
Tuesday the 13th is likely the most important day of the week and could be trend-setting for the crypto market. It remains to be seen whether the monumental day turns out to be crypto’s best.