Gary

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/xrp-lawsuit-news-can-ripple-and-sec-finally-settle-a-look-at-the-path-ahead/">XRP Lawsuit News: Can Ripple and SEC Finally Settle? A Look at the Path Ahead</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a significant development this July, a court brought an end to the protracted legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) over the classification of XRP as a “security.” The presiding judge, Judge Torres, ruled that XRP does not qualify as a security when purchased by individual retail investors. </p> 
<p>However, for large corporations that had acquired XRP in the past, the classification remains uncertain. This outcome has been perceived as a partial victory by the XRP community, and the celebrations continue to reverberate.</p> 
<p>Despite this partial win for Ripple, the SEC seems far from satisfied. In a recent court filing made just this Wednesday, the SEC announced its intention to pursue an “interlocutory appeal” against Judge Torres’ ruling.</p> 
<p>A prominent member of the XRP community took to social media to remind everyone of Ripple’s previous stance. Ripple had indicated that if the SEC recognized XRP as a non-security, a swift settlement could be expected. Given the recent court ruling affirming XRP’s non-security status and the SEC’s own acknowledgment of this fact in their latest court submission, questions naturally arise regarding the remaining hurdles obstructing a settlement.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">The only way <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> and the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> settle before the end of the year is if Judge Failla grants the <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@coinbase</a> MTD (or partially grants it – finding token sales on an exchange in a blind bid/ask transaction do not fall under U.S. securities laws but allows the staking component… <a href="https://t.co/0KzGT1l0OI" rel="noopener noreferrer nofollow">https://t.co/0KzGT1l0OI</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1697989234714353760?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 2, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>In response to these developments, John Deaton, a pro-XRP figure, suggests that for Ripple and the SEC to reach a settlement by year-end, they would require the approval of Judge Failla regarding Coinbase’s request, at least to some extent. This would entail acknowledging that certain types of cryptocurrency transactions do not fall within the purview of U.S. securities laws.</p> 
<p>Should this occur, it could compel the SEC and its chairman, Gary Gensler, to reassess their approach. Deaton expresses doubt that the Solicitor General would endorse an appeal, as it could potentially escalate the matter to the Supreme Court, potentially curbing the power of not only the SEC but also other federal agencies.</p> 
<blockquote class="wp-block-quote"> 
 <p>Deaton articulates this scenario, stating, “The only conceivable path for Ripple and the SEC to reach a settlement before the year’s end hinges on Judge Failla granting Coinbase’s Motion to Dismiss (or partially granting it), which would entail recognizing that token sales on an exchange in a blind bid/ask transaction do not fall under U.S. securities laws but would allow the staking component to progress.”</p> 
</blockquote>

XRP Lawsuit News: Can Ripple and SEC Finally Settle? A Look at the Path Ahead

CoinPedia News

Inne artykuły opublikowane 4 wrz 2023

Kyrgyzstan Bolsters State Budget Through Burgeoning Crypto Mining Taxes

DOT Price Forecast 2023: Can KBW Event, Boost Polkadot Upward?

IBM Proposed Guidelines For Easy Adoption of Digital Euro

Seoul to target North Korea’s illicit crypto assets with a new cyber bill

SOL Price Begins Bullish Climb Ahead Of Falling Wedge Pattern

PWN's Next Chapter: Expanding to Mantle Network

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!