Earlier this week, Binance and its CEO were sued by the Commodity Futures Trading Commission (CFTC) for soliciting consumers in the U.S. by the way of unregistered offerings.
The regulatory body considers Bitcoin (BTC-USD), Ethereum (ETH-USD), and other tokens as commodities and also accused Binance of asking its employees to mask their locations.
The crypto market seems to be brushing aside these regulatory woes and prices are on the rise again. After being in the spotlight as a haven of safety amid the banking turmoil over the past two weeks, BTC is again up 5.8% so far today and a massive 70.6% so far this year.
ETH though, continues to play laggard with a 49% gain during this period.
On the other hand, the CFTC considering tokens as commodities has been boosting the fortunes of Ripple (XRP-USD) which has gained 26.9% over the past five sessions and 58% so far this year.
XRP has broken above a key resistance level from October 2022, and if prices sustain, one could expect more gains in the coming weeks.
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