2024

Impact

<p>The post <a href="https://coinpedia.org/news/decrypting-ripple-vs-sec-pro-xrp-attorney-breaks-down-secs-480m-claim/" rel="noopener noreferrer nofollow">Decrypting Ripple vs SEC: Pro-XRP Attorney Breaks Down SEC’s $480M Claim</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>SEC demands a whopping $2B from Ripple in a landmark case shaking the crypto world! Ripple fights back, slamming the charges as an intimidation tactic and overreach. Could this be a game-changer for crypto regulation?</p>
<p>In the latest Ripple vs SEC legal battle, the regulatory body dealt a significant blow to Ripple Labs by alleging the crypto payments firm’s discriminatory practices towards institutional investors. The SEC contends that Ripple’s selective discounts on its XRP token harmed investors who did not receive such benefits. The $480 million Ripple allegation was a turning point in the court struggle.</p>
<h2 class="wp-block-heading" id="h-pro-xrp-lawyer-advises-caution"><strong>Pro-XRP Lawyer Advises Caution</strong></h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The SEC’s brief is a possible problem for <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> beyond this case. The SEC is able to argue that there were two groups of institutional sales investors (its calls them favored and non-favored) and Ripple offered one group significant discounts in XRP price over the other group… <a href="https://t.co/RKjg00nGxl" rel="noopener noreferrer nofollow">pic.twitter.com/RKjg00nGxl</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1772534465916760475?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In reaction to the SEC’s <a href="https://x.com/Belisarius2020/status/1772534465916760475?s=20" rel="noopener noreferrer nofollow">claims</a>, Bill Morgan, a well-known supporter of Ripple and XRP, warned people to be careful. Morgan has raised some valid points when he talked about how the SEC’s position might affect things, he claimed it will be hard for Ripple in the upcoming court cases. He said that even though the SEC’s claim of $480 million in damages seems very high, the proof supporting this claim needs to be looked at more closely. Moreover, he emphasized the need for close examination and questioned the SEC’s beliefs as well as the severity of the harm allegedly caused by Ripple’s actions.</p>
<h2 class="wp-block-heading" id="h-impact-on-ripple-s-reputation"><strong>Impact on Ripple’s Reputation</strong></h2>
<p>But it’s not just the legal case that matters Morgan <a href="https://x.com/Belisarius2020/status/1772534474125033692?s=20" rel="noopener noreferrer nofollow">said </a>we can’t overlook the potential impact on Ripple’s reputation among institutional investors. Sharing information about Ripple’s exclusive discounts in the public domain will tarnish the company’s image. People may doubt on company’s intention to follow the regulations in the public’s interest. Morgan feared that revealing such information could harm Ripple’s reputation and worsen its legal and business problems.</p>
<p>Another notable XRP lawyer, Fred Rispoli, <a href="https://x.com/freddyriz/status/1772443905432195178?s=20" rel="noopener noreferrer nofollow">explained </a>the current Ripple-SEC developments. Rispoli stressed that the SEC’s difficulty in proving investor damages could influence the court’s judgment. He examined the claimed impact of significant discounts on XRP sales and their implications for institutional buyers like GSR.</p>
<h2 class="wp-block-heading" id="h-sec-s-appeal-to-judge-torres"><strong>SEC’s Appeal to Judge Torres</strong></h2>
<p>Meanwhile, the SEC petitioned Judge Analisa Torres to impose severe Ripple penalties. The regulator requested over $2 billion in compensation, interest on prejudgment claims, and civil penalties and accused Ripple of extensive securities law violations. While Ripple officials and the cryptocurrency community deny the SEC’s claims, the regulatory pressure highlights the mounting challenges Ripple to face in the coming days.</p>
<p>According to Rispoli, this motion’s outcome will affect Ripple financially and determine the legality of its On-Demand Liquidity (ODL) practices. With Ripple’s XRP holdings higher than previously estimated, the stakes are high in this legal showdown.</p>

Decrypting Ripple vs SEC: Pro-XRP Attorney Breaks Down SEC’s $480M Claim

Table of Contents

CoinPedia News

Other articles published on Mar 26, 2024

Ethereum ETF Hopes Face Skepticism Despite Past Bitcoin ETF Interactions

WAX Blockchain and AWS team up for Web3 gaming tools

Donk.Meme Presale Raises 300 SOL In 48 Hours, The Next $BOME On Solana?

BlackRock's Tokenized Fund 'Brings Legitimacy' to Public Blockchains Like Ethereum, Bernstein Says

Borderless Capital Expands Global Presence by Acquiring Asset Manager CTF Capital in Miami and LatAm

WAXE Token On The Rise, Can It Reach The Supply Level Next?

Join our free newsletter for daily crypto updates!