Anticipated Resolution of the SEC vs. Ripple Case and Its Impact on Cryptocurrency
The anticipated resolution of the SEC vs. Ripple case, which has significantly impacted the popular cryptocurrency, is approaching. Attorney Fred Rispoli, a well-known figure among Ripple enthusiasts, provided specific insights regarding the timeline, suggesting not one, but two potential dates for the judgment.
Rispoli, a legal expert, predicts that the ruling in this case, which has spanned over three years, will be delivered on the last day of July. However, he mentioned that it would be more fitting if the judgment were issued on another symbolic date.
This upcoming judgment is crucial in the context of last year’s ruling when Judge Torres finally recognized XRP as a non-security currency. At that time, cryptocurrency prices soared by 100% within hours.
Current Developments:
Currently, the debate centers around unregistered securities sales, for which Ripple is now required to pay compensation. At this stage, both parties are disputing the compensation amount. Ripple has taken a hit due to unregistered sales amounting to billions of dollars, yet the cryptocurrency company aims to settle for no more than $10 million. Despite the ongoing legal battle, Ripple remains steadfast in its defense, arguing that the SEC’s demands are disproportionate and lack merit.
Read more Ripple Releases One Billion XRP from Escrow Account in the Last 24 Hours
The magnitude of the compensation is the crux of this significant lawsuit, with Ripple striving to negotiate terms that reflect a more balanced and justified resolution.
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