- The lawsuit had essentially indicated illegal securities trading, but the court saw only a single applicable facts.
- Es imposed on the economic conditions of Ripple measured comparatively low fine of $ 125 million and otherwise dismissed the lawsuit.
According to right-wing experts, the lengthy legal dispute between Ripple Labs and the US stock exchange supervisory authority (SEC) could end with an unchanged judgment of $ 125 million against Ripple.
Lawyer Fred Rispoli suspectedthat the SEC will delay further measures and possibly want to wait for Paul Atkins to take over before making final decisions. The interim chairman of the SEC, Mark Uyeda, Gary Gensler has currently replaced SEC as highly ranking.
As CNF reported, However, if the SEC has already rejected complaints against uniswap, octopus, coin base and consensys in connection with cryptocurrencies, however, no signs have shown that it is considering rejection during the current procedure against Ripple. In addition, she has set up a special crypto-task force that should promote innovations and at the same time ensure the accountability obligation. This initiative, which SEC Commissioner Hester Peirce is headed, was launched in January and signals a more balanced regulatory approach to the crypto industry.
On August 7, 2024, the responsible court in New York made a mixed judgment. It decided that the XRP sales at institutions are considered securities transactions, but not sales to small investors. As a result, Ripple was sentenced to a fine of $ 125 million for institutional sales, an amount that was significantly less than the $ 2 billion required by the Sec. Ra Rispoli commented on this with the words:
“Yes, I bet, there are considerable discussions about reducing or avoiding this punishment.”
XRP as a possible envelope option
Ripple has long held a considerable part of his XRP assets on a trust account and releases a certain amount at regular intervals to ensure price stability and prevent the market from flooding. The company currently has 37.1 billion XRP. This considerable reserve has fueled speculation that Ripple could use his XRP stocks to pay fines and thus possibly contribute to the creation of a US cryptor reserve.
Krypto-Analyst Yassin Mobarak has this possibility expressed and explains:
“The government has an incentive to agree because the US government would first have in history XRP and therefore had an incentive to let the value grow over time. This would eliminate the shackles that prevented the use of XRP in the USA and finally enable him to use the benefits for which it was created. This in turn would lead to a positive price development. “
Something seems to be done again in the procedure, since the competent court of appeal is now examining the matter. After its request for appeal, the SEC had to submit its appeal briefing by January 15, in which it explains its arguments against the previous judgment, while Ripple Labs has time until April 16.
In the meantime, XRP has experienced a remarkable volatility in the middle of legal uncertainty and has increased by 8.95 % in the past week, but has lost 5.61 % in the past few days, which the current one Trade price to $ 2.36brings .
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