US Securities and Stock Exchange Commission (SEC) and Ripple $2.34 In the legal struggle between them, the possibility of a 125 million dollar penalty will be unchanged on the agenda. Law expert Fred Rispoli said that he could maintain the current attitude of SEC. While the focus of the case focuses on whether XRP is classified as securities, the slow progress of the process makes strategic payment options difficult. Judge Analisa Torres’s decision in 2023, Ripple’s restrictions on corporate XRP sales deepen the discussions.
SEC’s stable attitude in Ripple case
While the SEC is withdrawn from other cases in the crypto currency sector, the legal process with Ripple continues aggressively. It is stated that the institution expects a new leader to appoint a new leader and that this change may affect the final decision. Rispoli pointed out the risk of the efforts of the SEC employees to be wasted and emphasized that the insistence in the case may damage the in -house motivation.
The basic argument of the institution is that Ripple’s XRP sales violate the provisions of securities. However, the last year’s decision of Judge Torres revealed that individual sales could not be evaluated within this scope. The SEC’s appeal application is in the evaluation phase by the second regional court. While the process was expected to extend until 2025, the dates of presenting the final defenses of the parties were determined.
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LEGAL STATUS AND SALES Restrictions of XRP
Ripple is struggling to remove the restrictions that regulate corporate XRP sales. The company aims to minimize the impact of these obstacles on the market. However, SEC deepes the case by arguing that these sales contradict the policies of the protection of investors. Experts say that the court makes a clear decision on the status of XRP may form a precedent for the sector.
David Schwartz, Ripple Technology Officer, responded to concerns about the XRP supply. Explaining that there is no function to increase the token supply in the current code, Schwartz said, “37.1 billion XRP reserves are managed by control mechanisms”. On the other hand, Ripple’s possibility of paying the punishment with digital being is discussed, but Rispoli said that this does not seem possible because of the slowness of the process.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
