2024

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In a significant development in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple's Chief Legal Officer&nbsp;<a href="https://x.com/s_alderoty/status/1787985043350339935" rel="noopener noreferrer nofollow">Stuart Alderoty</a> hinted at the imminent resolution of the case. Alderoty's remarks came in response to the SEC filing its redacted remedies reply brief and supporting exhibits.
The filing by&nbsp;<a href="https://u.today/secs-gensler-many-cryptocurrencies-are-securities" rel="noopener noreferrer nofollow">the SEC</a> highlighted various issues, including the question of financial harm and the possibility of a permanent injunction against&nbsp;<a href="https://u.today/ripples-stablecoin-project-already-attacked-by-sec" rel="noopener noreferrer nofollow">Ripple</a>. The regulator argued for the granting of an injunction, citing concerns over the crypto company's reliance on the sale of XRP as its primary source of income.
In the midst of these legal maneuvers, Alderoty remained optimistic, expressing confidence that the lawsuit would soon be behind them. However, he also noted that while Ripple was nearing the end of its journey with the lawsuit, others were just beginning.
<blockquote>
 And just when you think the SEC can’t sink any lower, if you are a financial regulator outside the U.S. and have done the hard work of establishing comprehensive crypto licensing frameworks, know that the SEC has no respect for you and thinks you are handing out the equivalent of… <a href="https://t.co/7qZQIkyrH4" rel="noopener noreferrer nofollow">pic.twitter.com/7qZQIkyrH4</a>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1787985043350339935?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 7, 2024</a>
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Alderoty's comments also took aim at the SEC's approach, accusing the regulator of failing to uphold the law and attempting to deceive the judge overseeing the case. He further criticized the regulator's stance on crypto regulation, suggesting a lack of respect for international financial regulators.
Despite the challenges posed by the SEC's filings, Ripple appears determined to see the case through to its conclusion. Alderoty's remarks signal a sense of anticipation within the company, suggesting that they believe a resolution may be on the horizon.
With Ripple's legal team expressing confidence in the path forward, all eyes remain on the courtroom as the&nbsp;<a href="https://u.today/xrp-ledger-foundation-picks-new-validator-node" rel="noopener noreferrer nofollow">XRP</a> case edges closer to its conclusion.

Ripple CLO Teases XRP Case Resolution: 'We Are Closer Than Ever'

U_Today

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