Future

United

<ul>
 <li><strong>Ripple and SEC progress in a legal dispute with final filings in the lawsuit’s remedies stage.</strong></li>
 <li><strong>The SEC disputes Ripple’s claim of acting without recklessness and challenges uncertainty about XRP’s legal status.</strong></li>
</ul>
<p>In the ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC), significant progress has been made as both parties filed their final replies in the <a href="https://thenewscrypto.com/sec-seeks-1-95b-settlement-from-ripple-in-proposed-final-judgment/" target="_blank" rel="noopener noreferrer nofollow">lawsuit’s</a> remedies stage.</p>
<p>The SEC challenged Ripple’s assertion of acting without recklessness and argued against any “widespread uncertainty” regarding XRP’s legal status, despite the court previously rejecting Ripple’s “fair notice” defense. Additionally, the SEC maintains concerns about Ripple’s potential future violations, stating that past compliance doesn’t guarantee against future breaches.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="965" height="345" src="https://thenewscrypto.com/wp-content/uploads/2024/05/image-35.png" alt="" class="wp-image-97787" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/image-35.png 965w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-35-300x107.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-35-768x275.png 768w" sizes="(max-width: 965px) 100vw, 965px">
  <figcaption class="wp-element-caption"><em>SEC Response (Source: </em><a href="https://www.dropbox.com/scl/fi/uvoe3wqksdkvhdg1xrbqz/SEC-Redacted-Remedies-Reply-Brief.pdf?rlkey=4bpb3rnm6le549e12gizhcypf&amp;e=3&amp;dl=0" target="_blank" rel="noopener noreferrer nofollow"><em>SEC</em></a><em>)</em>
  </figcaption>
 </figure>
</div>
<h3 class="wp-block-heading" id="h-ripple-s-chief-legal-officer-argues">Ripple’s Chief Legal Officer Argues</h3>
<p>In response, Ripple’s chief legal officer, Stuart Alderoty, criticized the SEC’s approach, suggesting it might perplex international regulators with established <a href="https://thenewscrypto.com/ripple-boosts-global-expansion-with-cib-collaboration-in-egypt/" target="_blank" rel="noopener noreferrer nofollow">crypto licensing</a> frameworks. He likened the SEC’s actions to issuing fishing licenses rather than providing robust financial oversight.&nbsp;</p>
<p>However, analysts anticipate a prolonged final judgment will occur around September.</p>

SEC Dismisses Ripple’s Defenses, Highlights Concerns Over Future Breaches

Table of Contents

TheNewsCrypto

Other articles published on May 8, 2024

VanEck Launches Meme Coin Index: Featuring Top Tokens Including Dogecoin (DOGE) and Shiba Inu (SHIB)

Top 3 Crypto Presales Poised for Explosive Growth with Massive Potential Returns

Bitcoin Whales Increase Holdings Significantly

Sharp Decline in Bitcoin Production by Hut 8

Hong Kong Boosts Crypto Adoption: A New Era for Digital Assets and Bitcoin (BTC)

Solana (SOL) Continues to Struggle Below Key Resistance as Toncoin’s TON Presents Potential 100% ...

Join our free newsletter for daily crypto updates!