Victory

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-celebrates-legal-victory-with-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory with SEC</a><br></p>
<p class="p1" style="text-align: justify"><strong>Ripple,</strong> while celebrating the end of its four-year legal battle with the U.S. Securities and Exchange Commission, some lawyers expressed doubts about whether the recent court developments truly constituted a victory. Ripple, the company behind <a href="https://en.coin-turk.com/analyst-predicts-xrp-price-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> and a currency exchange network, celebrated the end of its four-year legal battle with the SEC on August 7.</p>
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-ripple-front">What’s Happening on the Ripple Front?</h2>
<p class="p1" style="text-align: justify">Announcing <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the news</a> via X, <strong>Ripple</strong> CEO Brad Garlinghouse argued that Judge Analisa Torres reduced the SEC’s plan to impose a $2 billion fine on Ripple by 94% and shared the following statement:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“This process is a victory for Ripple, the industry, and the rule of law. The SEC’s negativity towards the entire XRP community has been eliminated.”</p>
</blockquote>
<p class="p1" style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-379041" src="https://coin-turk.com/wp-content/uploads/2024/08/brad.webp" alt="" width="500" height="228"></p>
<p class="p1" style="text-align: justify">The community quickly reacted to Garlinghouse’s announcement with a 26% increase in XRP. Many lawyers called the recent court decision a major victory for Ripple, while some hesitated to call it a complete victory. Some even suggested that this might not be the end of the legal battle.</p>
<h2 class="p1" style="text-align: justify" id="striking-statements-on-the-matter">Striking Statements on the Matter</h2>
<p class="p1" style="text-align: justify"><strong>Philip Moustakis,</strong> a lawyer at Seward &amp; Kissel and a former SEC advisor, stated that while the decision to reduce the SEC’s compensation claim from $2 billion to $125 million is not a victory for the SEC, it is still difficult to say there is a winner in the case. This is due to the ongoing lack of clarity on how U.S. securities laws should apply to cryptocurrencies, the legal defense costs plus fines, and the disruption to Ripple’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">business</a> since the case began in late 2020. According to a report in the legal news service Law360, Moustakis said:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“Ripple is a winner, but I think looking at the big picture, if you have to be involved in a lawsuit for years, have your existence removed from exchanges at least temporarily, fight a regulator, and pay a large fine, it doesn’t feel like a victory.”</p>
</blockquote>
<p class="p1" style="text-align: justify">In addition to the high costs of Ripple’s victory, there is also the possibility that the SEC may appeal certain aspects of the case.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripple-celebrates-legal-victory-with-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory with SEC</a></h5>
<p>The post <a href="https://en.coin-turk.com/ripple-celebrates-legal-victory-with-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory with SEC</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Ripple Celebrates Legal Victory with SEC

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