{"id":3134,"date":"2024-07-08T08:09:33","date_gmt":"2024-07-08T08:09:33","guid":{"rendered":"https:\/\/cryptd.in\/ripple-v-sec-lawsuit-update-july-8th\/"},"modified":"2024-07-08T08:09:33","modified_gmt":"2024-07-08T08:09:33","slug":"ripple-v-sec-lawsuit-update-july-8th","status":"publish","type":"post","link":"https:\/\/cryptd.in\/pl\/ripple-v-sec-lawsuit-update-july-8th\/","title":{"rendered":"Ripple v SEC Lawsuit Update July 8th"},"content":{"rendered":"

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

The Ripple vs. SEC lawsuit, ongoing since December 2020, focuses on alleged unregistered securities offerings via XRP sales, with disputes over penalties now proposed at $102.6 million.
\nPredictions suggest a resolution by July 31 with a potential $25 million penalty, but the case\u2019s complexity and appeals may prolong it, affecting XRP\u2019s price.<\/p>\n

<\/a><\/p>\n

What\u2019s New?<\/h2>\n

The legal spat between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing since December 2020. It is centered on accusations that the company and some of its executives conducted unregistered securities offerings by selling XRP tokens. Even though the case reached its trial phase in April of this year, a resolution has yet to be announced.<\/p>\n

One major issue that seems to prolong the lawsuit is the size of Ripple\u2019s potential penalty. The SEC initially sought<\/a> a staggering $2 billion fine on the company, while the latter insisted on a sum no larger than $10 million. Several weeks ago, the regulator softened its tone, proposing a $102.6 million penalty.<\/p>\n

At the end of June, Judge Amy Jackson\u00a0dismissed the SEC\u2019s\u00a0claims that secondary market sales of\u00a0Binance\u2019s BNB token constituted securities transactions. The ruling caught the eye of Ripple, which intended to use it in its favor. Specifically, it filed<\/a> a Notice of Supplemental Authority, arguing that the decision supports its case that the alleged illegal sales of XRP do not warrant \u201charsh remedies\u201d (as the agency claims).<\/p>\n

The Commission was quick to react, zg\u0142oszenie<\/a> an official response on July 3. It argued that the case\u00a0against Binance is \u201cwholly irrelevant\u201d to the one against Ripple:<\/p>\n

\u201cRipple highlights one observation in the nearly 90 pages of the Binance\u00a0ruling\u00a0and tries to extrapolate from that general observation about the efficiency of the\u00a0SEC\u2019s litigation strategy The\u00a0Court\u2019s\u00a0observations on a motion to dismiss\u00a0about\u00a0the\u00a0SEC\u2019s\u00a0actions\u00a0say\u00a0nothing\u00a0at all\u00a0about\u00a0Ripple\u2019s\u00a0conduct or the remedies that are proper for the violations this Court found.\u201d<\/p>\n

Is It Time for an Outcome?<\/h2>\n

The complexity of the legal process and possible appeals from both sides may prolong the lawsuit indefinitely. However, some optimists believe an official end might occur as early as this month.<\/p>\n

One example is the American attorney Fred Rispoli, who outlined<\/a> July 31 as a possible date. He also predicted\u00a0the outcome\u00a0would\u00a0include a penalty of no more than $25 million for the company and $0 disgorgement.<\/p>\n

\u201cJudge rules all sales she deemed illegal\u00a0are permanently enjoined, and rules all the \u201cnew\u201d contracts referenced by Ripple are not properly before her, so SEC will have to sue again if it believes these violate her ruling,\u201d the lawyer added.<\/p>\n

The eventual resolution of the lengthy court battle is expected to trigger huge volatility for XRP\u2019s price. Recall that the asset\u2019s valuation soared<\/a> substantially after each of Ripple\u2019s partial wins last year. Those curious to learn more about the case and its possible impact on the token, feel free to take a look at our dedicated video below:<\/p>\n\n

<\/div>\n

Stanowisko Ripple v SEC Lawsuit Update July 8th<\/a> pojawi\u0142a si\u0119 najpierw na CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The Ripple vs. SEC lawsuit, ongoing since December 2020, focuses on alleged unregistered securities offerings via XRP sales, with disputes over penalties now proposed at $102.6 million. Predictions suggest a resolution by July 31 with a potential $25 million penalty, but the case\u2019s complexity and appeals may prolong it, affecting XRP\u2019s price. What\u2019s New? […]<\/p>\n","protected":false},"author":0,"featured_media":3135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nRipple v SEC Lawsuit Update July 8th - 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\/pl\/ripple-v-sec-lawsuit-update-july-8th\/\" \/>\n<meta property=\"og:locale\" content=\"pl_PL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple v SEC Lawsuit Update July 8th - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"TL;DR The Ripple vs. SEC lawsuit, ongoing since December 2020, focuses on alleged unregistered securities offerings via XRP sales, with disputes over penalties now proposed at $102.6 million. 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