US Securities and Stock Exchange Commission (SEC) and Ripple $2.34 The legal struggle between Labs has entered a new phase. The XRP community demands the withdrawal of the SEC’s appeal on October 2, 2024. Judge Analisa Torres’s decision that programmatic sales do not constitute a violation, it is emphasized that the appeal is unnecessary. Ripple’s request for extension until April 16 is based on possible leadership change in the SEC. The expectation that the new SEC President Mark Uyeda will adopt more moderate policies increases speculation on the process.
SEC’s appeal application and the reaction of the XRP community
While SEC evaluated Ripple’s corporate XRP sales as securities, it did not make a similar determination for programmatic sales. This distinction of Judge Torres created an important precedent in the crypto currency market. However, the appeal of the SEC continues on the claim that the decision is uncertainty. XRP supporters argue that the appeal will weaken Ripple’s partial victory and disrupt market stability.
Ripple’s lawyers, SEC’s objection rather than technical details focus on “legal principles”, he says. The possibility of a penalty of $ 125 million in the case is also a matter of debate. The community argues that if the parties agree, this amount may decrease. Ripple CEO Brad Garlinghouse again emphasized that regulatory clarity in the industry should be achieved.
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Possible Effects of New Second Leadership on the Case
The arrival of Mark Uyeda to the SEC Presidency strengthened the expectation of softening in crypto monetary policies. Uyeda’s closure of the Coinbase case in the past and withdrawing charges against Ripple executives led to comments that a similar approach could be exhibited in this case. Ripple’s extension demand coincides with the new leadership.
Ripple Labs demands clear rules for the sector by increasing communication with law makers in the US. Cooperation with the company’s Blockchain associations aims to contribute to the shaping of the regulatory framework. Experts say that if the SEC gave up the appeal, Ripple will be closer to a final compromise. The process may lead to redefining the understanding of regulation in the crypto money market.
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.
