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XRP Case Update: SEC Makes Ripple Ask for More
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has reached a critical juncture, with both parties now awaiting Judge Analisa Torres’ ruling on the revised settlement motion filed on June 12. A recent comment from prominent XRP advocate Bill Morgan suggests that the SEC’s aggressive appeal strategy may have inadvertently emboldened Ripple to pursue more than initially intended.
Following Judge Torres’ July 2023 summary judgment, the court issued a split decision. On one hand, it was determined that XRP sales on exchanges and through algorithms were not securities transactions. Conversely, institutional sales were deemed unregistered offerings in violation of federal securities laws. Initially, Ripple appeared poised to accept this ruling in its entirety, including the unfavorable outcome regarding institutional sales. However, this new development may have altered their stance.
Bill Morgan’s analysis implies that had the SEC not appealed a partial loss, Ripple would likely have accepted the original judgment without further protest. The unexpected appeal seems to have triggered Ripple’s decision to fight harder and challenge the unfavorable ruling on institutional sales instead of accepting it as an inevitable reality.
The SEC’s actions may have inadvertently strengthened Ripple’s resolve. Rather than settling for a partial victory, they have opted to adopt a more assertive approach. This shift in strategy signifies a crucial turning point for Ripple, one that aims not only to defend their past conduct but also to shape the regulatory landscape for digital assets in the United States.
The case has become a pivotal battleground in the broader struggle over how digital assets are governed in America. The upcoming judgment from Judge Torres may further clarify or complicate the legal framework for crypto firms operating within the U.S., potentially paving the way for significant implications that could reshape the industry’s future trajectory.
Source: timestabloid.com
