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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-challenges-secs-regulatory-approach-in-ongoing-legal-battle/" data-wpel-link="internal">Ripple Challenges SEC’s Regulatory Approach in Ongoing Legal Battle</a><br></p>
<p style="text-align: justify">In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), a new phase has begun with Ripple’s recent submission of a Supplemental Authority Notice. <strong>Ripple</strong> submitted this notice to Judge Analisa Torres on July 2, 2024, to support its opposition to the SEC’s request for a resolution and final judgment. Ripple cites Binance’s recent legal victory to argue that the SEC’s regulatory approach is inadequate and that relying on court cases to regulate the cryptocurrency <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a> leads to inconsistent outcomes.</p> 
<h2 style="text-align: justify" id="what-are-ripple-s-claims">What Are Ripple’s Claims?</h2> 
<p style="text-align: justify">Ripple pointed out in its filing that cryptocurrencies do not easily fit into the traditional securities framework known as the <strong>Howey Test</strong>. The seven-page opinion emphasized that the SEC’s strategy of using enforcement actions instead of clear regulatory guidelines creates uncertainty for market participants and leads to unpredictable legal interpretations.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367429 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/xrp.png" alt="" width="500" height="378"></p> 
<p style="text-align: justify">Ripple’s main strategy is to force the SEC to reconsider its regulatory approach to the cryptocurrency space.</p> 
<h2 style="text-align: justify" id="sec-s-counterarguments-and-the-future-of-the-legal-process">SEC’s Counterarguments and the Future of the Legal Process</h2> 
<p style="text-align: justify">The SEC is expected to counter Ripple’s notice by referencing its success in the <strong>Terraform Labs</strong> case. In this case, Judge Rakoff ruled that Terraform Labs and its founder Do Kwon violated U.S. securities laws by failing to register TerraUSD and Luna as securities.</p> 
<p style="text-align: justify">This ruling could serve as a precedent supporting the SEC’s stance against Ripple. Additionally, Judge Rakoff questioned the Programmatic Sales ruling of XRP, suggesting that Judge Torres might have erred in her decision regarding XRP’s status.</p> 
<p style="text-align: justify">The outcome of this case has significant implications for the price of XRP and the broader <a href="https://en.coin-turk.com/how-does-ethereum-eth-work/" data-wpel-link="internal">cryptocurrency market</a>. A victory for Ripple could trigger a substantial increase in XRP’s price, while a win for the SEC could lead to a decline in XRP’s value.</p> 
<h2 style="text-align: justify" id="xrp-s-market-performance">XRP’s Market Performance</h2> 
<p style="text-align: justify">Currently, XRP’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market performance</a> shows a slight increase of 0.5%, bringing its trading price to $0.4792 and its market cap to $26.68 billion. However, this increase is below the recent high of $0.52, influenced by speculation regarding the approval of an <strong>Ethereum ETF</strong>.</p> 
<p style="text-align: justify">As legal proceedings continue, the final decision will be closely watched by both legal experts and market participants. The resolution of this case could set a significant precedent for how cryptocurrencies will be regulated in the future.</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-challenges-secs-regulatory-approach-in-ongoing-legal-battle/" data-wpel-link="internal">Ripple Challenges SEC’s Regulatory Approach in Ongoing Legal Battle</a></h5>

Ripple Challenges SEC’s Regulatory Approach in Ongoing Legal Battle

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