Legal Battle Between Ripple and SEC Continues

The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to create uncertainties for company officials and investors. Stuart Alderoty, Ripple’s Chief Legal Officer, emphasized the need for Ripple to comply with the established court schedule. Ripple’s Legal Challenges and Schedule Ripple is required to submit a petition to the court by April 22, 2024, followed by SEC’s response by May 6, 2024. These dates are considered crucial milestones in the case, and Ripple is urged to closely monitor the process. Allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen by the SEC were rejected by the court, which had significant implications on the overall perception of the case. However, the SEC is seeking an approximately $2 billion penalty against Ripple for alleged violation of the Securities Act. Status of XRP and Market Effects The dispute between Ripple and SEC continues to affect […]

Legal Battle Between Ripple and SEC Continues

The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to create uncertainties for company officials and investors. Stuart Alderoty, Ripple’s Chief Legal Officer, emphasized the need for Ripple to comply with the established court schedule.

Ripple’s Legal Challenges and Schedule

Ripple is required to submit a petition to the court by April 22, 2024, followed by SEC’s response by May 6, 2024. These dates are considered crucial milestones in the case, and Ripple is urged to closely monitor the process.

Allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen by the SEC were rejected by the court, which had significant implications on the overall perception of the case. However, the SEC is seeking an approximately $2 billion penalty against Ripple for alleged violation of the Securities Act.

Status of XRP and Market Effects

The dispute between Ripple and SEC continues to affect the price and market movements of XRP. The price of XRP recently decreased by 1.45% to $0.4976. This has had negative repercussions on market sensitivity.

Useful Information

Ripple has until April 22, 2024 to submit the required petition to the court.
SEC is seeking a $2 billion penalty against Ripple for violating the Securities Act.
The price of XRP is negatively affected by the legal proceedings, showing market sensitivity.

The legal battle between Ripple and SEC is closely monitored by investors and market observers. The outcome of this process could have significant effects on the future of XRP and the general cryptocurrency market. The progress of the court proceedings in the near future is a subject of interest.

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