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Major Egyptian Bank Joins Forces With Ripple
5 days ago
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Released on 05 Aug 2014
Cryptopolitan
Cryptopolitan
followers

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the company behind the cryptocurrency XRP, has intensified as both parties proceed with drafting remedy-related briefs. This ongoing dispute stems from the SEC’s allegations that Ripple’s XRP token sales constituted unregistered securities offerings, violating federal securities laws. Recent developments following Judge Torres’ summary judgment decision have prompted further legal actions, including the SEC’s motion for an interlocutory appeal. As the dispute progresses, both parties engage in remedies-related discovery and prepare their respective briefs to address the breach of Section 5 of the U.S. Securities Act. SEC vs. Ripple war rages on The legal struggle between Ripple Labs and the United States Securities and Exchange Commission (SEC) continues as we approach the critical dedline. As the litigation moves into the “remedies” phase, critical financial and operational data are kept secret until this vital date. Meanwhile, investors are keenly awaiting the eventual outcome of Ripple’s legal battle with the SEC, which could influence future case outcomes. The SEC and Ripple will now start crafting remedy-related briefs. According to the court’s submission schedule, the SEC must submit its remedy-related brief by March 13. The SEC will seek punitive disgorgement to dissuade corporations from violating Section 5 of the US Securities Act. The extent of the penalty that Ripple must pay for XRP sales to institutional investors is undetermined. The court ruling could be based on whether Ripple continued to violate Section 5 of the US Securities Act following the December 2020 complaint. In January, Judge Sarah Netburn granted the SEC Motion to Compel and ordered Ripple to 1. Provide financial accounts for 2022/2023. 2. Disclose post-complaint XRP sales contracts to institutional investors. 3. Respond to an interrogatory regarding the amount of XRP institutional sales proceeds after the SEC filed the complaint. Judge Netburn made a few observations in the court ruling that are worth considering. They included: “Courts have no hesitation in concluding that, in calculating the size of a penalty necessary to deter misconduct, the extent of a defendant’s wealth is a relevant consideration.” “The SEC credibly argues that the District Judge may consider post-complaint conduct when determining whether an injunction is necessary and just.” Judge Netburn also noted that the SEC made adequate evidence to demonstrate that post-complaint XRP institutional sales revenues could help the courts determine a remedy. Given Judge Netburn’s findings and comments, Ripple may risk a significant punishment if it continues to violate Section 5 of the US Securities Laws following the lawsuit. However, US courts are likely to evaluate XRP sales to US institutional investors. The SEC faces troubled times in the US courts In December, Alderoty provided several examples of court rulings criticizing SEC practices. The increasing court scrutiny of the SEC may have an impact on the outcome of ongoing cases against crypto firms. Furthermore, ongoing inappropriate behavior may force US lawmakers to act on recent warnings. On February 7, five US Senators, including Cynthia Lummis, signed a letter to SEC Chairman Gary Gensler. Senators reacted to the SEC dropping its accusations against Debt Box. Significantly, the Senators threatened to scrutinize other enforcement cases. Last Monday, Chair Gensler dismissed the increased scrutiny, stating:  I think we’re doing everything according to the law and how the courts interpret the law. And as the courts shift their interpretations, jobs like mine are both more challenging and more interesting. Gary Gensler Ripple must submit its remedy-related brief by April 12. US case law may benefit Ripple, especially if there were no post-complaint XRP sales to US institutional investors. The legal defense team could consider the following reasons to reduce the penalty: In 2010, the US Supreme Court determined that the SEC’s jurisdiction is limited to sales made in the United States. Morrison vs National Bank of Australia. More recently (2023), the Second Circuit determined that the court must evaluate whether the misled investors suffered financial hardship. No harm, no foul. SEC v. Govil. Sales of XRP to US accredited investors are exempt from Section 5 of the US Securities Act. Net earnings from XRP sales to US institutional investors exceed the limits of any exemption against SEC.

4 days ago
CoinFea
CoinFea
followers

Ashley Prosper, a prominent figure within the XRP community, recently provided valuable insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). This case, which has captivated the attention of the cryptocurrency world, revolves around the SEC’s claim that Ripple engaged in the sale of unregistered securities through its distribution of XRP tokens. Prosper’s update sheds light on the critical phases of the lawsuit, particularly focusing on the discovery process related to remedies and the significant role Ripple’s financial records will play in the proceedings. According to Prosper, the discovery phase has been extended to February 20, a key date Ripple must comply with a court order to submit its financial details. These documents, crucial for the SEC’s argument for an injunction against Ripple’s future sales of XRP to institutions, are expected to be made public on March 13. This will occur when the SEC files its brief on the remedies, revealing Ripple’s audited financial statements for 2022 and 2023, along with information on institutional sales of XRP post-complaint. Anticipated timeline for case resolution The lawsuit’s timeline has been a subject of speculation within the cryptocurrency community. Prosper clarifies that a final judgment from Judge Analisa Torres will likely come later in the year, with the remedies schedule order indicating an April 29 deadline for the final remedies brief submission. A judgment could be expected between July and August, though delays could push the decision into the next year. Prosper also notes that an April resolution could only feasibly result from a settlement between Ripple and the SEC, a scenario that remains uncertain at this stage. Implications for Ripple and the cryptocurrency industry The Ripple vs. SEC lawsuit is more than a legal battle between two entities; it is a pivotal moment for the cryptocurrency industry at large. The outcome could set a precedent for how digital assets are regulated in the United States, making the case a bellwether for applying securities laws in the digital age. As the cryptocurrency community awaits the release of Ripple’s financial records and the final stages of the lawsuit, the implications for regulatory practices and the future of digital assets are significant. Prosper’s insights into the Ripple vs. SEC case provide a clearer picture of the expected timeline and the potential ramifications for Ripple, the XRP community, and the broader cryptocurrency market. As the legal proceedings advance, the industry looks on with keen interest, recognizing the case’s capacity to influence the regulatory landscape for years. The post Ripple lawsuit update: Key deadlines and insights revealed first appeared on Coinfea.

5 days ago
CoinQuest
CoinQuest
followers

XRP Price Analysis: Potential Surge to All-Time High Amid Legal Proceedings📈💼🤯 As the cryptocurrency market continues to captivate investors and enthusiasts alike, XRP, the digital asset associated with Ripple Labs, stands out with its potential for a significant price surge in 2024. According to available data, XRP could see a resurgence to its all-time high of $0.6405 later this year. On Tuesday, February 20, XRP exhibited promising signs as its price slightly rose to $0.5741. This uptick coincides with ongoing legal proceedings involving Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The SEC v. Ripple case has been a focal point in the cryptocurrency industry, with implications extending beyond regulatory compliance. Following the conclusion of the discovery phase in the SEC v. Ripple case, attention now turns to the remedies phase, scheduled to commence imminently. The outcome of this legal battle remains uncertain, with potential ramifications for Ripple Labs and the wider cryptocurrency market. Newly uncovered facts in the SEC's actions could sway the final decision and influence XRP's future trajectory. As of the latest update, XRP's price stands at $0.5741, with a target of reaching $0.60 in the near term. The price surge aligns with the progression of the SEC v. Ripple case into the "remedies" phase. During this crucial stage, the court may issue declaratory decisions, award damages, or impose penalties. While the price of XRP continues its ascent, potential obstacles lie ahead. Near the $0.6073 mark, representing the 78.6% Fibonacci retracement level from its 2024 peak, XRP price may encounter resistance. Technical indicators such as the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) signal positive momentum. However, market volatility remains a factor to consider. In the event of a price correction, XRP may find support around $0.5248 before attempting to reclaim its position and target the $0.6405 threshold. 🚀🔍 $XRP #TrendingTopic #Write2Earn #AmanSaiCommUNITY

5 days ago
Crypto Web3 Today
Crypto Web3 Today
followers

Ripple Lands New Major User, XRP Integration to Follow? Prominent (and pseudonymous) member of the Ripple community on the X platform (formerly known as Twitter), @Wkahneman, has published the news that fintech heavyweight Ripple Labs has onboarded another major customer, sharing a link to the 2024 Fintech Report, Egypt. The report states that Commercial International Bank (CIP) based and operating in Egypt is now collaborating with Ripple to integrate its blockchain technology in order to "enhance the efficiency of cross-border payments." @Wkahneman wondered whether the bank will also integrate the XRP token itself as part of its collaboration with Ripple. Ripple takes on major customer in Egypt. In his Twitter thread, @Wkahneman notes that prior to onboarding Commerical International Bank (CIB) Egypt, the only Ripple user from Egypt that was confirmed was NBE (the National Bank of Egypt), in collaboration with the LuLu crypto exchange. This is Ripple's partner based in the United Arab Emirates. This exchange is part of LuLu Financial Holdings based in the same country, which also includes LuLu Money. LuLu collaborates with many local large banks and financial institutions to help them facilitate fast and low-cost transactional payments leveraging Ripple's blockchain network RippleNet and the XRP token affiliated with Ripple. Further in the thread, @Wkahneman named the other Ripple partners, which have headquarters in Egypt, but they operate outside that country – QNB, FAB and Attijariwafa. He concluded that these three are unlikely to be using XRP. The XRP fan carefully hinted that it is likely that CIB is going to utilize XRP since its goal is to enhance cross-border payments. Ripple acquires Standard Custody. earlier, Ripple blockchain decacorn recently announced the acquisition of Standard Custody, a regulated company that is focused on digital assets. This purchase matches Ripple's strategy of complying with U.S. regulatory standards with a goal to improve its range of products in order to enter untapped markets.

5 days ago
Cryptopolitan
Cryptopolitan
followers

Amid ongoing legal battles between Ripple Labs and the US Securities and Exchange Commission (SEC), recent speculation regarding a potential settlement has been met with skepticism and outright dismissal by legal authorities closely monitoring the case. Speculation of settlement amid financial disclosure mandate Following a recent court ruling mandating Ripple to furnish comprehensive financial records related to its institutional sales of XRP for the years 2022 and 2023, there has been speculation about an impending settlement. However, legal experts within the XRP community have debunked these rumors, citing the confidential nature of settlement negotiations. Bill Morgan, a seasoned attorney, emphasized that settlement negotiations are confidential and subject to privilege, cautioning against reading into rumors until a settlement is formally announced. Similarly, another legal expert, Jesse Hynes, categorically dismissed the rumors as baseless, noting that leaks in such high-stakes legal matters are improbable. Marc Fagel, a retired securities lawyer, added a touch of sarcasm to the discussion, ridiculing the notion of leaks in settlement negotiations. He highlighted the confidentiality surrounding such discussions and stressed that leaks are highly unlikely. Ripple’s legal journey and market impact Since the lawsuit’s inception in December 2020, Ripple has faced significant legal challenges, with the SEC scrutinizing its institutional sales of XRP. Despite legal turbulence and its impact on XRP’s market performance, Ripple has secured notable victories in court, including the determination that XRP is not a security and the dismissal of the SEC’s case against Ripple executives Brad Garlinghouse and Chris Larsen. As the case progresses into the remedies phase, with crucial deadlines looming, the crypto community remains on edge. The outcomes of this legal battle could have far-reaching implications for Ripple, its related XRP sales, and the price of digital assets.

11 days ago
Cryptopolitan
Cryptopolitan
followers

In a significant update concerning the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, Ashley Prosper, a well-regarded member of the XRP community, has provided clarity on the expected timeline for the case’s progression and eventual resolution. Prosper’s insights come at a crucial juncture as stakeholders within the cryptocurrency sector closely monitor the developments of this landmark lawsuit. The case has seen numerous twists and turns and hinges on the SEC’s allegations that Ripple conducted unregistered securities offerings by selling XRP tokens. Prosper highlighted the current lawsuit phase, focusing on the remedies-related discovery process. According to Prosper, the deadline for this phase was extended to February 20, which also marks the date Ripple is mandated to submit its financial records in accordance with a court order. These records are anticipated to play a pivotal role in the proceedings, especially as the SEC seeks to establish the need for an injunction against Ripple’s future institutional sales of XRP. The documents in question, including Ripple’s audited financial statements for 2022 and 2023 and details of post-complaint institutional sales of XRP, are slated for public release on March 13, when the SEC files its remedies brief. Understanding the legal proceedings and implications The legal discourse surrounding the Ripple vs. SEC lawsuit extends beyond the immediate parties involved, touching on broader implications for the cryptocurrency industry. Ripple’s victories in certain aspects of the case, such as the rulings on XRP programmatic sales and the classification of the coin as a non-security, have been viewed as significant milestones. Conversely, the SEC has also seen success, notably in its motion to compel Ripple to produce its financial records concerning XRP institutional sales. Prosper’s analysis sheds light on the expected timeline for the lawsuit’s conclusion. Contrary to some speculations within the XRP community, the final judgment by Judge Analisa Torres is not anticipated until later in the year. Prosper cites the remedies schedule order, which sets April 29 as the deadline for the final submission of the remedies brief. Following this submission, a judgment is expected to be issued between July and August, although there remains the possibility of a delay until the following year. Prosper emphasizes that an April resolution would likely only occur through a settlement between Ripple and the SEC. A scenario that remains uncertain given the SEC’s apparent intent to leverage the case as a precedent for future regulatory actions against other crypto projects. The path forward for Ripple and the crypto industry The Ripple vs. SEC lawsuit has been closely watched by industry observers, as its outcome could have far-reaching implications for the regulatory landscape of cryptocurrencies in the United States. The case’s progression underscores the complexities of applying traditional securities laws to the rapidly evolving digital asset space. As the legal battle unfolds, the cryptocurrency community remains divided on the potential impact of the final judgment. The anticipation surrounding the disclosure of Ripple’s financial records and the subsequent steps in the legal process reflects the high stakes involved. With the SEC aiming to establish a precedent and Ripple defending its operational practices, the lawsuit serves as a litmus test for the future of cryptocurrency regulation. As the deadline for the remedies brief approaches, stakeholders are bracing for the next phase of this legal saga, which promises to shape the regulatory framework governing digital assets for years to come. In conclusion, the insights provided by Ashley Prosper offer a clearer understanding of the timeline and potential outcomes of the Ripple vs. SEC lawsuit. As the case progresses, its implications for Ripple, the XRP community, and the broader cryptocurrency industry remain a focal point of discussion and analysis.

5 days ago
CryptoNewsLand
CryptoNewsLand
followers

XRP witnesses increased whale activity with $100 million dumped and $1 billion in one-day inflows, sparking market interest. Ripple Labs secures legal victories against SEC, boosting investor confidence despite ongoing legal battles. Technical analysis hints at a potential $2 surge for XRP, mirroring previous significant price movements. In February 2024, XRP surged into the spotlight with remarkable activity and pivotal developments. Notably, whales reemerged in the market, initiating a significant movement by dumping $100 million worth of XRP while simultaneously attracting attention with a staggering $1 billion influx within a single day.  This flurry of whale activity sparked intrigue among investors, setting the stage for speculation regarding XRP’s future trajectory. Adding to the intrigue, Ripple Labs celebrated several victories in its ongoing legal dispute with the US Securities and Exchange Commission (SEC). Despite the legal hurdles still ahead, these successes instilled confidence in investors and positively influenced sentiments surrounding XRP’s potential. Furthermore, technical analysis provided compelling insights into XRP’s prospects, hinting at the possibility of a substantial price surge.  RSI for the #XRP/#BTC pair in the weekly time frame stands in the same place as it did before the 2017 & 2021 XRP Bull Runs.RSI tells us, the 2024 Run is here. pic.twitter.com/M9dSKncSfN — Dark Defender (@DefendDark) February 19, 2024 Market observers pointed out striking similarities between current market patterns and those observed during previous bullish cycles, raising speculation about a potential rally that could propel XRP toward the coveted $2 milestone. This analysis, combined with the recent legal triumphs and heightened whale activity, fueled optimism among market participants. Thus, the convergence of these factors painted a promising outlook for XRP enthusiasts and investors. The resurgence of whale activity, coupled with Ripple Labs’ legal victories, injected newfound optimism into the market. Meanwhile, technical indicators suggested the potential for significant price movements on the horizon. Read also: XRP Community: Brace for the $2 Range, Urges Crypto Analyst Ethereum Braces for Bullish Surge Following Market Correction Ripple’s Legal Victory Averts an SEC-Induced Crypto Catastrophe, Asserts Prominent XRP Pro Lawyer Major Entities Flock to Join Ripple After Latest XRP vs SEC Victory XRP’s Legal Victory: A Turbo Boost for Ripple’s IPO and a Major Blow to SEC’s Case Against Coinbase The post XRP: Bracing for a Bull Run? Experts Signal Potential Surge to $2 appeared first on Crypto News Land.

6 days ago
CaptainAltcoin
CaptainAltcoin
followers

XRP saw its price plunge over 70% amidst the fallout from the SEC’s ongoing lawsuit against Ripple Labs. However, signs of a potential trend reversal have emerged in recent weeks, with technical analysts identifying a textbook chart setup that could propel prices back toward critical resistance around $0.84. Bump and Run Formation Signals Bullish Breakout According to crypto trader taztrader, XRP’s price structure exhibits the early signs of a bullish bump and run reversal pattern. This setup entails an initial break above a key downtrend resistance, a retest of that broken trendline to confirm its new role as support, and finally a resumption upwards to target major overhead resistance. Taztrader stated, “XRP looks to be on the verge of breaking out to the upside with a Bump and Run type chart.” With XRP rallying from its 2023 lows to clear its former bearish trendline, taztrader believes the next leg toward horizontal resistance around $0.84 has likely already begun. Given the historically volatile price action associated with the Ripple token, he expects an accelerated move could materialize quickly. Bolstering the bull case, taztrader also highlights constructive technical developments on key ratio charts – namely outperformance emerging against both Bitcoin and Ethereum. With altcoins showing tentative signs of bouncing, rotations into left-behind tokens like XRP may soon pick up pace. Sharing a timeline, Taz mentioned that the move to $0.84 could happen in the next 3–4 weeks. Decisive Break Above $0.55 Validates Uptrend Offering an additional layer of insight, altFINS points to a decisive break above the psychologically-key $0.55 mark that capped the XRP price. With this level now surpassed, improved technicals reflect increasing upside conviction. Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices! Show more +Show less – Namely, altFINS’ automated pattern recognition identifies a bullish breakout from the boundaries of a downtrend channel that can precipitate swift moves upwards. Initial upside potential of $0.68 translates to 24% prospective gains from breakout confirmation. While the long-term downtrend remains intact for now, the door appears open for XRP to surge. For embattled XRP investors, the glimpses of renewal on the price charts provide vital relief. Still, the specter of SEC regulation continues to limit significant institutional adoption. Once legal uncertainties get resolved, the shackles may unlock for Ripple to regain its former luster. You may also be interested in: Kaspa’s KAS Token Soars to New Heights, Surpassing Cosmos (ATOM) and Theta (TAO) Filecoin (FIL) Eyes Tripling to $25 as Technicals Turn Bullish and Solana Partnership Catalyzes Growth The 5 Best Altcoins to Watch in February 2024: Which Altcoin Will Explode in 2024? Check NuggetRush ($NUGX) Sponsored: Invest Responsibly, Do Your Own Research. Buy NUGX Today Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices A unique play-to-earn gaming platform in the memecoin market The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience Fosters a strong community by encouraging physical meetups among members NFT Integration with Prominent Characters The post Ripple (XRP) on the ‘Verge of a Bump and Run Type Chart Breakout’: Analyst Shares Next Target And Timeline appeared first on CaptainAltcoin.

5 days ago
Coinpedia
Coinpedia
followers

The post Ripple Price Prediction: Will XRP Price Hit $2 in 2024? appeared first on Coinpedia Fintech News While crypto markets prepare to hit $2 trillion, bull optimism has soared. This means the bulls are slowly strengthening, pushing XRP higher. The last bullish surge broke above the declining barrier after repeated attempts. Thus, the impending rally may turn the token around, but there may be barriers.  Will XRP Price Springs in February or March be decisive? In February 2024, XRP has been making waves in the crypto world. Some big wallets suddenly sold off $100 million worth of XRP while vast amounts of money flowed in, reaching up to $1 billion in a single day. Investors are eyeing XRP more closely as Ripple Labs wins battles against the SEC. However, recent developments show the legal fight isn’t over yet. As of the latest update, XRP has experienced a 2.04% increase in price over the past 24 hours, reaching $0.5718. Its market cap has also risen by 2.02%, maintaining its position as the 6th largest cryptocurrency. With a weekly surge of 8.08%, XRP has navigated a bullish week. Notably, prominent XRP analyst XRP Whale continues to express bullish sentiments towards the Ripple-backed token, which is evident in recent posts on X today, February 20. Here’s what’s next in XRP price.  Analyst’s Insight on XRP’s $2 target XRP’s price has been climbing again after a market slump caused by the approval of nine Bitcoin ETFs. Now, experts suggest XRP might be gearing up for a major surge. Looking at the key parameter, the Relative Strength Index (RSI) analysis for the Bitcoin-XRP trading pair shows a potential surge for XRP. According to Dark Defender, a crypto expert, the current RSI, compared to previous bull runs in 2017 and 2021, indicates similarities and predicts a surge as high as $2. His analysis is backed by historical figures; for instance, in December 2017, XRP surged from $0.20 to an all-time high of $3.84 in just a month. Similarly, in 2021, it rose from $0.50 to above $1.50 in over a month. Technically, it’s Time to Accumulate While technical analysis from TradingView shows a more neutral stance, oscillators rating XRP as a “buy” and moving averages as a “sell,” recent performance indicates a potential continuation of its upward trend. XRP has generally increased over the past 52 weeks, with gains of 44.76%. Despite a decline in January, recent movements show signs of recovery, with a 2.78% increase in the last 30 days and 6.67% in the last week. At the time of writing, XRP is valued at $0.56, experiencing a slight decline of 0.10% in the last 24 hours. Despite a 10% drop in trading volume, XRP holders have seen nearly 8% weekly gains, highlighting underlying resilience. Overall, the crypto market expects surprises as XRP prepares for a major discovery phase in its legal battle with the SEC.

6 days ago
Coinpedia
Coinpedia
followers

The post Ripple vs SEC: Attorney Reveals Key Details On The Next Important Date appeared first on Coinpedia Fintech News The SEC v Ripple Labs are preparing for a crucial judicial battle on February 20, 2024. All the eyes are on the case as this is the only thing that can turn the case upside down. Ripple is confident in its ability to negotiate the SEC’s tactics to extend the legal process for financial advantage, even though the SEC may be celebrating a previous success forcing it to release financial documents. Meanwhile, legal experts reveal some key details.  Filan Update Adds Weight to February 20th Hearing Renowned attorney James K. Filan chimed in on the importance of February 20th in the SEC vs Ripple legal battle. Ripple is expected to respond to the SEC’s inquiries on this date, marking a crucial milestone in the ongoing case.  Right now, the whole controversy revolves around the financial documents. In the remedies phase of the litigation, the court determines sanctions for Ripple’s alleged securities law violations, specifically its sales of XRP to institutional clients. The SEC filed a motion to require Ripple to provide its audited financial statements from 2022 to 2023 and contracts for sales after the lawsuit started to help the court decide. Plus, the SEC also asked for information on how much profit Ripple made from selling XRP to big investors after the lawsuit started. On this Ripple resisted at first, but Magistrate Sarah Netburn sided with the SEC. Now Ripple has to provide the requested records by February 20th. Impact on Ripple’s Future XRP Sale The upcoming release of Ripple’s financial records will greatly affect how the court decides what measures are best. In addition to fines, the threat of an injunction against Ripple’s future sales of XRP to big clients can also be affected. The SEC says these financial records are very important for determining if such an injunction is needed. If it is, Ripple might have to register with the SEC before selling XRP to institutional buyers in the U.S. What Next? Looking ahead, March 13th through April 29th marks the next significant phase in the lawsuit, during which parties will submit their respective briefs about remedies litigation. Following this period, the court will determine the appropriate penalty for Ripple’s alleged violations. Legal experts and Ripple CTO David Schwartz posit that resolution may occur this year, though the specter of appeals could prolong proceedings into 2025 or 2026. Potential Appeals and Conclusion Appeals are still possible since Ripple and the SEC can challenge disagreeing decisions. Ripple benefited from last year’s summary judgment, but the SEC still disputes sections of it. The court denied the SEC’s interlocutory appeal, complicating the judicial procedure. The district court may hear more appeals if the case ends this year. As February 20th approaches, the XRP community braces for the next chapter in this twisted lawsuit, which could impact Ripple, XRP, and digital asset regulation.

6 days ago
奔跑财经-FinaceRun
奔跑财经-FinaceRun
followers

Ripple was granted an extension and filed an XRP sales contract in SEC legal action. Ripple has until February 20 to submit contracts to sell XRP to institutional buyers, hedge funds, and on-demand liquidity (ODL) customers, according to the latest developments in the court case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Ripple puts strategic focus on contract submissions amid SEC battle The request for an extension stems from Ripple's difficulty in obtaining and producing necessary documents in the three years prior to the current legal proceedings. They said additional time is needed to ensure the information they collect is correct and complete because of the complexity. It’s worth noting that Ripple’s request for an extension is specifically limited to the production of the contract. They did not ask for any other dates to be changed in the case. However, the deadline is approaching, so it remains to be seen whether the company has used its time wisely. Legal experts believe Ripple’s choice to focus solely on the contract filing date demonstrates the company’s commitment to addressing the SEC’s concerns.​ Once the contract is filed by February 20, the next important steps in the court battle will likely occur in March and April, when the parties will file legal briefs. The court will then carefully consider the arguments raised and decide what penalty should be imposed. #Ripple #SEC

7 days ago

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