The Securities and Stock Exchange Committee (SEC) decided to withdraw its appeal in the case against Ripple, which represents a decisive turning point in the long legal conflict.
According to encrypted currency expert’s lawyer John DitonThis step is the final assertion that the distinctive xrp symbols must be considered Digital assets Not Financial stocks.
The importance of Ripple (XRP) in the legal case
SEC announcement not to proceed with the signs of appeal a A great victory for ripplesWhich faces legal fees for years.
Despite this decision, the court’s order is still suspended by the company 125 million dollars The alleged inappropriate for sale from XRP. However, with the resumption of the Securities and Stock Exchange Committee, Ripple could negotiate a settlement to reduce the fine of the fine.
Deaton, known as the representation of XRP investors in the legal battle against the Supreme Education Council, believes that Ripple now has an advantage in negotiations.
“Everything has changed,” The lawyer stated, Emphasizing how the cryptocurrency industry has undergone a major transformation and SEC changed its approach to the sector.
One of the main aspects of this matter is Crossed clips presented by Ripple in October 2024.
According to Deaton, SEC wants to avoid judging this appeal, as much as he can Reducing the jurisdiction of the committee And the effect on other continuous conflicts.
This gives Ripple an important matter Negotiation on the leverage To review the fine amount or obtain more appropriate conditions.
Despite the legal victory, Ripple still finds itself confrontation A judicial order issued by Judge Angia Torres. This decision prohibits the company from selling XRP to Institutional investorsTo avoid possible violations of securities laws.
Deaton emphasizes that the main difficulty in Ripple now is to overcome this restriction and the ability to do so Provide XRP directly to American banks. This obstacle can become a decisive point in the upcoming developments of the legal issue.
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Ripple remains an American company
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One of the important aspects, according to Deaton, is that Ripple did not leave the United States despite the lawsuit filed by SEC.
Ripple CEO, Brad GarlinghyusIt may confirm American character of the company In an attempt to enhance the company’s position.
“We have faced legal measures from the United States government and the Biden administration, but we are A company born in America and we never left itGarlinghyus said.
This element can play a major role in future negotiations with organizational authorities.
Deaton remembers the moment when the Supreme Education Council began the issue against Ripple, describing it as it The attack on the encrypted currency sector. In his opinion, it was not just an isolated issue against Ripple, however Wider The entire ecosystem is directed.
The lawyer also referred to the organizational campaign promoted by personalities such as Elizabeth Warren and Gary GinsnerGiven that it is a broader strategy by the traditional financial industry to reduce the development of encrypted currencies.
conclusion
SEC decision to withdraw appeal against Ripple signs An important turning point for the company And the entire cryptocurrency sector.
Although the issuance of a fine One of the leading companies in the world of encryption.
With new dynamics in play, The future of XRP looks more promisingSEC’s decision can put a basic precedent for other legal conflicts in the sector.
