Ripple and SEC Continue Legal Battle

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 highlighted the need for Ripple to comply with the established court schedule. Ripple’s Legal Challenges and Schedule Ripple is required to file a petition with the court by April 22, 2024, followed by the SEC’s response by May 6, 2024. These dates are considered significant 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 dismissed by the court. This decision had significant effects on the general perception of the lawsuit. However, the SEC is seeking a penalty of approximately $2 billion for violating the Securities Act against Ripple. XRP Status and Market Effects The dispute between Ripple and the SEC continues to […]

Ripple and SEC Continue Legal Battle

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 highlighted the need for Ripple to comply with the established court schedule.

Ripple’s Legal Challenges and Schedule

Ripple is required to file a petition with the court by April 22, 2024, followed by the SEC’s response by May 6, 2024. These dates are considered significant 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 dismissed by the court. This decision had significant effects on the general perception of the lawsuit. However, the SEC is seeking a penalty of approximately $2 billion for violating the Securities Act against Ripple.

XRP Status 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. This negatively impacted the market sensitivity.

Useful Information

Ripple has until April 22, 2024, to file the required petition with the court.
The SEC is seeking a $2 billion penalty against Ripple for violating the Securities Act.
The price of XRP is negatively affected by the lawsuit 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 cause for curiosity.

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