Cryptocurrency

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<ul>
 <li>Ripple rejected the SEC’s reduced penalty offer from $2 billion to $102 million.</li>
 <li>Ripple challenges the SEC’s regulatory methods, citing a need for clear rules.</li>
 <li>The lawsuit’s outcome could significantly impact XRP prices and the broader crypto market.</li>
</ul>
<p>On July 2, 2024, <a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple Labs</a> filed a Notice of Supplemental Authority in court, rejecting the SEC’s reduced penalty offer of $102 million. Ripple has challenged the SEC’s regulatory approach, arguing that it lacks clear regulations and requires formal legislation, signaling a significant shift in their three-and-a-half-year legal battle.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BREAKING<br><br>“Entry of Final Judgment” for <a href="https://twitter.com/hashtag/RIPPLE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RIPPLE</a> VS. SEC NEWS <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> has filed a Notice of Supplemental Authority regarding the recent Binance decision <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Aq5iClUqrK" rel="noopener noreferrer nofollow">pic.twitter.com/Aq5iClUqrK</a></p>— EDO FARINA 🅧 XRP (@edward_farina) <a href="https://twitter.com/edward_farina/status/1808218829044212048?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 2, 2024</a>
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<p>Ripple Labs submitted a Notice of Supplemental Authority to <a href="https://cryptonewsland.com/ripple-wins-big-in-court-but-xrps-future-as-a-security-remains-in-question/" target="_blank" rel="noopener noreferrer nofollow">Judge Analisa Torres’ court</a>. Ripple plans to capitalize on Binance’s recent legal victory to challenge the SEC’s approach. The business contends that formal legislation is necessary because the SEC’s procedures lack consistency and clear regulations.</p>
<p>In the notice, Ripple argued that intangible digital assets fail to fall well within the framework established by the Howey test. Ripple questioned the SEC’s approach to industry regulation, arguing that it leaves investors in a state of uncertainty.</p>
<p>The SEC is expected to respond to Ripple’s Notice of Supplemental Authority, most likely referencing the <a href="https://cryptonewsland.com/terraform-labs-co-founder-do-kwon-challenges-sec-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">SEC vs. Terraform Labs ruling</a>. In that case, Judge Rakoff determined that Terraform Labs and its founder, Do Kwon, violated US securities laws by failing to register TerraUSD and Luna as securities.</p>
<p>The outcome of this lawsuit is expected to have a major effect on the price of XRP and the wider cryptocurrency market. Ripple’s victory could spark an XRP rally, as it did after its partial victory last year. On the other hand, a victory for the <a href="https://www.sec.gov/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> could cause the cryptocurrency market to decline.</p>
<p>The ongoing legal dispute involving Ripple and the SEC is having a big impact on the cryptocurrency market. Ripple’s recent filing, along with the SEC’s expected response, are likely to shape the future regulatory landscape for digital assets. The court’s ruling will have a long-term effect on the market.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
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 <li><a href="https://cryptonewsland.com/the-sec-wins-case-after-a-long-battle-with-final-court-ruling/" rel="noopener noreferrer nofollow">The SEC Wins Case After a Long Battle With Final Court Ruling</a></li>
 <li><a href="https://cryptonewsland.com/ripple-seeks-confidentiality-could-secs-opposition-redefine-crypto-industry-standards/" rel="noopener noreferrer nofollow">Ripple Seeks Confidentiality: Could SEC’s Opposition Redefine Crypto Industry Standards?</a></li>
 <li><a href="https://cryptonewsland.com/ripples-10m-cap-vs-secs-2b-penalty-a-defining-moment-for-cryptos-regulatory-future/" rel="noopener noreferrer nofollow">Ripple’s $10M Cap vs. SEC’s $2B Penalty: A Defining Moment for Crypto’s Regulatory Future</a></li>
 <li><a href="https://cryptonewsland.com/binance-to-pay-monetary-penalties-to-settle-us-investigations-wsj/" rel="noopener noreferrer nofollow">Binance to Pay Monetary Penalties to Settle US Investigations: WSJ</a></li>
 <li><a href="https://cryptonewsland.com/singapore-high-court-rejects-cryptocurrency-as-money-in-legal-dispute/" rel="noopener noreferrer nofollow">Singapore High Court Rejects Cryptocurrency as Money in Legal Dispute</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ripple-vs-sec-case-enters-final-judgement-phase-as-ripple-rejects-secs-reduced-penalty/" rel="noopener noreferrer nofollow">Ripple vs SEC Case Enters Final Judgement Phase as Ripple Rejects SEC’s Reduced Penalty</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple vs SEC Case Enters Final Judgement Phase as Ripple Rejects SEC’s Reduced Penalty

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