The Ripple community is waiting for the Ripple case to be settled with the SEC… Will that happen soon?
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer The Ripple community is waiting for the Ripple case to be settled with the SEC… Will that happen soon?
- The Ripple community is optimistic and sees a settlement as the next solution in the Ripple case with the SEC.
- The digital currency XRP reacted positively and increased by almost 35% in the last 7 days.
The SEC lawsuit against Ripple has begun to get clearer and closer.
According to some experts, the authority has given up trying to prove that XRP is a security token in its most recent application.
Is Ripple preparing for an upcoming project?
The introduction of the SEC’s summary judgment hints that a settlement may be on the horizon.
Read:Update: Deadline announced for Mt. Gox to decide how to get their money back
Currently, Ripple and its community seem very confident that the worst-case scenario right now is just a “fine”.
This is one of the main reasons why XRP is on the rise, as the price of the coin has jumped by a whopping 50% since the last court filings.
Quote “John Deaton,” attorney for XRP holders, arguing the primary SEC body from the summary ruling.
He mentioned that the SEC says that Ripple funded its business by promoting the possibility of earning its digital token.
He also told that the SEC argues that Ripple sells and distributes XRP to the public while keeping a significant amount for itself.
The SEC then attempts to show how Ripple has promoted itself and its digital token, making it a joint venture.
Why can the SEC lose its claim?
The SEC stated that the purpose of Ripple’s escrow account is solely to remind investors of what Ripple represents as a corporate entity.
However, it claims that XRP holders have no legal or financial claims against Ripple.
While Ripple does not owe anything related to XRP, this is the main reason why Ripple cannot be a joint venture.
Read:Korean authorities ask Interpol to place a red notice on the founder of the Terra crypto project
Deaton also highlighted that the SEC had dropped this claim, and had planned not to rely on that certification, and stated that it was an argument that could turn against the SEC itself.
Read also:
Polkadot now allows Tether (USDT) to be minted on its own blockchain
Coinbase faces crypto patent infringement case amid declining trading volumes on its platform
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time