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Заголовок Major Ripple v SEC Lawsuit Development: The Regulator Strikes Back
Дата 20240704

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============= Обработанный текст:
Major Ripple v SEC Lawsuit Development: The Regulator Strikes Back

Major Ripple v SEC Lawsuit Development: The Regulator Strikes Back

Author: Dimitar Dzhondzhorov

Last Updated Jul 4, 2024 @ 12:43

The SEC described Ripple s latest wish as wholly
irrelevant to the legal battle between the two entities.

TL;DR

Ripple is using a recent court ruling on Binance s BNB token to argue
against harsh penalties from the SEC for XRP sales, citing lack of regulatory
clarity.

The regulator dismissed the relevance of the Binance case to Ripple s
situation; XRP s price has dropped to $0.45 amid broader market
declines.

Additional Confrontation

Last week, Judge Amy Jackson dismissed the US SEC s claims that
secondary market sales of Binance’s BNB token constituted securities
transactions. The magistrate s decision caught the eye of Ripple, which
intended to use it in its favor.

Specifically, the company filed a Notice of Supplemental Authority, arguing
that the ruling supports its case that the alleged illegal sales of XRP do not
warrantharsh remedies ” (as the agency claims).

“T his observation supports Ripple’s argument that providing clarity on the
legality of the different types of sales of XRP was the most significant
aspect of the Court’s summary judgment• Государство » Законы и право » Правовая система России » Судебное право России » Решение судебное decision…

The lack of regulatory clarity prior to that ruling, in turn, supports
Ripple’s position that the Court’s finding of a strict liability violation on
some of Ripple’s salesbut far fewer than the SEC alleged were violations –
does not reflect reckless disregard for the law or warrant harsh remedies.
And, of course, the SEC did not even allege recklessness as to Ripple in its
Complaint, ” the letter reads.

America s securities regulator did not leave things unattended, filing
an official response on July 3. According to the Commission, the case against
Binance is wholly irrelevant to the one against Ripple:

R ipple highlights one observation in the nearly 90 pages of the
Binance ruling, and tries to extrapolate from that general observation about
the efficiency of the SEC s litigation strategy The Court s
observations on a motion to dismiss about the SEC s actions says nothing
at all about Ripple s conduct or the remedies that are proper for the
violations this Court found .

XRP Price Outlook

Developments surrounding the lengthy lawsuit between Ripple and the SEC have
often triggered volatility for XRP. For example, the asset s price
exploded by over 70% last summer when Judge Torres ruled that the
company s programmatic sales to secondary trading platforms do not
constitute offers of investment contracts.

XRP s valuation has tanked substantially following the latest
advancements on the case, currently trading at a multi-month low of $0.45 (per
CoinGecko s data), a 7% decline on a daily scale.

Its pullback coincides with an overall market correction. As CryptoPotato
reported , Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) crashed to $57,000 for the first time since early
May, while Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) tumbled to $3,100. This resulted in $260 million in
liquidations, with long positions accounting for around 90% of the share.

Those willing to learn more about the Ripple v SEC case and check how its
outcome may impact XRP s price, feel free to take a look at our
dedicated video below:

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Tags: Ripple Ripple (XRP) Price

============= Итог: 3,5320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Bitcoin 3,5320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin#Ethereum 2,8641 ; Государство#Законы и право#Правовая система России#Судебное право России #Решение судебное


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