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. Ripple’s Chief Legal Officer Stuart Alderoty emphasized the need for Ripple to adhere to the established court schedule.
Ripple’s Legal Challenges and Schedule
Ripple must file a motion with the court by April 22, 2024, and then the SEC must respond by May 6, 2024. These dates are considered significant milestones in the case, and it is emphasized that Ripple needs to closely follow the process.
The allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen by the SEC were dismissed by the court. This decision had significant impacts on the overall perception of the case. However, the SEC is seeking an approximately $2 billion fine from Ripple for violating the Securities Act.
The Status of XRP and Market Effects
The dispute between Ripple and the SEC continues to affect the price and market movements of XRP. The price of XRP recently dropped by 1.45% to $0.4976. It is observed that this situation has had negative effects on market sensitivity.
Useful Information
Ripple has until April 22, 2024, to file a motion with the court.
The SEC is seeking a $2 billion fine from Ripple for allegedly violating the Securities Act.
The price of XRP is negatively affected by the legal process and shows market sensitivity.
The legal battle between Ripple and the 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 overall cryptocurrency market. The progress of the court proceedings in the near future is a subject of curiosity.
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