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-over-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory Over 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 latest court developments truly constituted a victory. Ripple, the company behind <a href="https://en.coin-turk.com/ripples-critical-formation-signals-bullish-trend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> and an 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 compensation penalty on Ripple by 94% and shared the following statements:</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. While many lawyers called the latest court decision a major victory for Ripple, some hesitated to label 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>According to Philip Moustakis,</strong> a lawyer at Seward &amp; Kissel and a former SEC advisor, the decision to reduce the SEC’s compensation claim from $2 billion to $125 million is certainly not a victory for the SEC, but it is still hard 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 the fine, 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 in the big picture, if you have to be involved in a lawsuit for years, have your asset delisted from exchanges at least temporarily, fight a regulator, and pay a hefty fine, it doesn’t feel like a victory.”</p>
</blockquote>
<p class="p1" style="text-align: justify">Besides the high costs of Ripple’s victory, the SEC may still 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-over-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory Over SEC</a></h5>
<p>The post <a href="https://en.coin-turk.com/ripple-celebrates-legal-victory-over-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple Celebrates Legal Victory Over 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 Over SEC

Table of Contents

COINTURK NEWS

Other articles published on Aug 12, 2024

Nasdaq and BlackRock Propose Options for Spot Ethereum ETF: SEC Decision Expected by April 2025

BabyDogeCoin Launches BabyDogeKids YouTube Channel for Children's Educational Content

Canto Team Announces Scheduled Upgrade to Fix 33-Hour Network Downtime

New Crypto Presale Sees Nearly 10,000 Registrations In Rapid Time; Solana and BNB Holders Are Div...

Binance Coin Struggles to Maintain $500 Support: What’s Next For BNB?

Pump.fun's High Failure Rate Revealed: 98.6% of Memecoins Never Launch

Join our free newsletter for daily crypto updates!