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Ripple and SEC want appeals paused – Is a breakthrough ruling coming soon?
In a surprise move, both Ripple and the US Securities and Exchange Commission (SEC) have jointly asked the US Second Circuit to pause their appeals. This sudden development has sent shockwaves throughout the cryptocurrency market, with many speculating that this may be the beginning of the endgame for Ripple vs SEC lawsuit.
The pause in appeal stems from a 2023 ruling by Judge Torres that XRP is not a security when sold in programmatic transactions but does constitute as such in institutional deals. The latest development suggests that both parties are now aligned on a proposed settlement, which would see Ripple agree to pay a $50 million fine, significantly down from the SEC’s original request of $2 billion.
Ripple vs SEC saga has long been centered around institutional XRP sales, with the SEC taking issue with the company’s deals with major players. However, this impasse could finally be coming to an end. If Ripple is allowed to sell XRP to institutions without regulatory intervention, this could unlock a massive influx of capital into both the Ripple Ledger and the cryptocurrency itself.
It seems that smart money has already begun to accumulate XRP in anticipation of a favorable ruling. Trading data suggests that institutional investors are quietly buying up the cryptocurrency, hinting at a major shift in the market’s sentiment.
Source: ambcrypto.com
