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Ripple Lawsuit News: SEC to Decide on XRP Appeal in Key Vote on April 3?
April 3rd is a crucial day for the cryptocurrency market, as it marks a key vote by the US Securities and Exchange Commission (SEC) regarding Ripple’s appeal. In recent news, Ripple CEO Brad Garlinghouse announced that the company had won its long-standing legal battle against the SEC after the regulatory body decided to drop its appeal.
The decision brings an end to over four years of legal disputes between Ripple and the SEC. The agency had initially claimed that Ripple’s sales of XRP constituted securities violations, but a judge ruled otherwise, stating that XRP is not a security. Despite the resignation of SEC Chairman Gary Gensler in January, the agency persisted with the appeal.
The cryptocurrency community has been eagerly awaiting confirmation from the SEC on this decision. While the regulatory body has recently confirmed the dropping of cases against Kraken and Cumberland, Ripple’s case remains unofficially confirmed.
April 3rd holds great importance as it may boost the market sentiment significantly. In related news, the US House will hold a crypto hearing on April 9th, which is expected to provide clarity on digital asset regulations.
Recently, both the SEC and Gemini requested a 60-day pause in their lawsuit to explore a potential resolution. The SEC had filed a lawsuit against Gemini in January 2023, claiming that the company was offering unregistered securities through its Earn product.
The crypto community has been closely monitoring these developments, and a decision on April 3rd could significantly impact Ripple’s future plans.
Source: https://coinpedia.org/news/ripple-lawsuit-news-sec-to-decide-on-xrp-appeal-in-key-vote-on-april-3/
