{"id":4639,"date":"2024-08-16T06:03:19","date_gmt":"2024-08-16T06:03:19","guid":{"rendered":"https:\/\/cryptd.in\/important-ripple-v-sec-lawsuit-development-incoming\/"},"modified":"2024-08-16T06:03:19","modified_gmt":"2024-08-16T06:03:19","slug":"important-ripple-v-sec-lawsuit-development-incoming","status":"publish","type":"post","link":"https:\/\/cryptd.in\/lv\/important-ripple-v-sec-lawsuit-development-incoming\/","title":{"rendered":"Important Ripple v SEC Lawsuit Development Incoming?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple was fined $125 million by the SEC, significantly less than the initial $2 billion demand.
\nThe company sees this as a victory, confident even if the regulator appeals.<\/p>\n

<\/a><\/span><\/h2>\n

What Could be Next?<\/h2>\n

The legal battle between Ripple and the US Securities and Exchange Commission (SEC), which dates back to late 2020, recently witnessed a major development.<\/p>\n

This happened at the start of August, when Judge Torres <\/span>ruled<\/span><\/a> that the company must pay a $125 million fine for violating certain securities laws. The sum represents a 94% deduction from the $2 billion that the regulator initially demanded.\u00a0<\/span><\/p>\n

While some interpreted the decision as a major win for Ripple and the end of the case, others reminded the SEC of its right to appeal.\u00a0<\/span><\/p>\n

The company\u2019s chief legal officer \u2013 Stuart Alderoty \u2013 recently <\/span>ierosin\u0101ts<\/span><\/a> that such an action from the agency won\u2019t surprise him. However, he reminded that the SEC won\u2019t be able to appeal some of the most essential court rulings:<\/span><\/p>\n

\u201cXRP\u2019s status as \u201cnot a security\u201d and the secondary market trading of XRP as \u201cnot security transactions\u201d <\/span>that<\/span> is<\/span> . <\/span>law<\/span> and that does not change even if the SEC appeals.\u201d<\/span><\/p>\n

Alderoty estimated that the regulator\u2019s chances of securing a decisive win are <\/span>quite<\/span> slim, arguing that the Court of Appeals reverses the initial court rulings in less than 10% of the cases.\u00a0<\/span><\/p>\n

\u201cGiven Judge Torres\u2019 careful and thoughtful treatment of all of the issues in this case, we are very confident that any appeal would stand as a challenge for the SEC. If I were advising the SEC (not as Ripple\u2019s chief legal officer but as a lawyer), I would recommend that they do not appeal.\u201d<\/span><\/p>\n

Is Ripple Satisfied With the Court\u2019s Decision?<\/span><\/h2>\n

Alderoty further stated that the company will respect the magistrates\u2019 ruling and will pay the $125 million penalty in cash off its balance sheet.\u00a0<\/span><\/p>\n

Previously, an announcement from Ripple\u2019s CEO Brad Garlinghouse also hinted that Ripple <\/span>will<\/span> not appeal the fine. The executive claimed that the court recognized that the SEC \u201coverplayed their hand,\u201d promising to abide by the rules.<\/span><\/p>\n

\u201cThis is a victory for Ripple, the industry, and the rule of law. The SEC\u2019s headwinds against the whole <\/span>no<\/span> XRP community are gone,\u201d he added<\/a>.<\/span><\/p>\n

Amats Important Ripple v SEC Lawsuit Development Incoming?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple was fined $125 million by the SEC, significantly less than the initial $2 billion demand. The company sees this as a victory, confident even if the regulator appeals. What Could be Next? The legal battle between Ripple and the US Securities and Exchange Commission (SEC), which dates back to late 2020, recently witnessed […]<\/p>\n","protected":false},"author":0,"featured_media":4640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nImportant Ripple v SEC Lawsuit Development Incoming? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/lv\/important-ripple-v-sec-lawsuit-development-incoming\/\" \/>\n<meta property=\"og:locale\" content=\"lv_LV\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important Ripple v SEC Lawsuit Development Incoming? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"TL;DR Ripple was fined $125 million by the SEC, significantly less than the initial $2 billion demand. 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