Chair

Seal

The <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">legal tussle</a> between the US Securities and Exchange Commission (SEC) and Ripple saw another round of court filings. The defendant filed a Motion to Seal Certain Documents filed in connection with the commission’s motion for Judgment and Remedies. However, XRP price hasn’t shown any positive moment. Ripple makes a fresh move 
As per reports, May 13 saw attention turning to court proceedings linked to the sealing of remedies related to briefing materials. Ripple, the SEC, and third parties filed omnibus letter motions for sealing hinting at a procedural step in the legal process.
The next crucial date for the SEC Vs Ripple case appears to be May 20. Ripple, the commission, and any third Parties are required to file letter briefs opposing the omnibus sealing motions. The redacted versions of all documents must be filed within 14 days of the court’s ruling on the sealing motions.
The next step would be the court reportedly determining the penalty for Ripple’s alleged breach of US securities laws. Meanwhile, investor attention is on the Office of Inspector General (IG) investigation. It will investigate alleged conflicts of interest within the SEC regarding cryptocurrencies.&nbsp;
This investigation is directly linked to the SEC vs. Ripple case. This move will carry implications for the SEC’s appeal against the Programmatic Sales of XRP ruling. Why it is important? 
It is important to note that the investigation will focus on key figures such as former SEC Director William Hinman and former SEC Chair Jay Clayton. Both of the officials have been accused of conflicts of interest in their dealings with digital assets.
While the IG investigation may not directly influence the court ruling on Ripple’s penalty, its outcome could impact the SEC’s decision to appeal the Programmatic Sales of XRP ruling. A resolution in favor of Ripple could potentially alter the trajectory of the case and provide relief for XRP investors.
XRP price has seen a decline of more than 20% in the last 60 days while it has managed to gain minor gains in the shorter time frame. XRP price is up by around 4% in the last 30 days.
Ripple’s native crypto, XRP, is trading at an average price of $0.501, at the press time. Its 24 hour trading volume is up by 4% to stand at $974 million.

XRP price hangs in balance amid fresh filings in Ripple vs SEC Lawsuit

Todayq News

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