{"id":178116,"date":"2023-10-20T22:25:53","date_gmt":"2023-10-20T16:55:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/why-secs-ripple-case-appeal-might-face-a-delay-crypto-news\/"},"modified":"2023-10-20T22:25:55","modified_gmt":"2023-10-20T16:55:55","slug":"why-secs-ripple-case-appeal-might-face-a-delay-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-secs-ripple-case-appeal-might-face-a-delay-crypto-news\/","title":{"rendered":"Why SEC’s Ripple Case Appeal Might Face a Delay – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The U.S. Securities and Exchange Commission (SEC) has recalibrated its approach in the high-profile lawsuit against Ripple. The regulatory body dropped charges <\/span>against CEO Brad Garlinghouse<\/span><\/a> and Executive Chairman Chris Larsen. However, this move doesn\u2019t mark the end of the entire case. The SEC maintains its stance against Ripple\u2019s alleged violation by directly selling XRP to institutions.<\/span><\/p>\n

SEC Postpones Appeal in Ripple Case<\/strong><\/h2>\n

Eleanor Terrett<\/span><\/a>, a Fox Business correspondent, highlighted an important aspect of the ongoing legal saga. The SEC isn\u2019t poised to file an immediate appeal. The reason lies in the procedural norm that dictates waiting for a final judgment. Significantly, this judgment isn\u2019t expected until the penalty phase concludes, a process potentially stretching into months. Consequently, any plans for an appeal are likely on hold until the following year.<\/span><\/p>\n

<\/p>\n

Moreover, Terrett clarified that dismissing charges against individual executives doesn\u2019t equate to the case\u2019s complete dissolution. The SEC\u2019s revision of its legal strategy reflects a nuanced approach, focusing on the company\u2019s operations rather than its executives\u2019 actions. This shift underscores the complexity and extended timeline expected before reaching any legal resolution.<\/span><\/p>\n

Ripple, SEC Eye Potential Case Settlement<\/strong><\/h2>\n

The case has seen Ripple score strategic points against the SEC. Most notable was Judge <\/span>Torres\u2019 decision in July, favoring <\/span><\/a>Ripple by ruling that offering XRP to individual investors via exchanges didn\u2019t violate federal securities laws. However, the court countered this by identifying the company\u2019s direct sales to institutional investors as a violation.<\/span><\/p>\n

<\/p>\n

Unsatisfied with the partial defeat, the SEC <\/span>seeks to challenge the court\u2019s<\/span><\/a> decision not to consider XRP as a security. Additionally, both parties continue intricate legal discussions, parsing through details and exploring possible grounds for resolution. Ripple\u2019s recent triumph, avoiding a court trial for its top executives, suggests a tilt in the legal scales.<\/span><\/p>\n

<\/p>\n

Legal expert Fred Rispoli<\/span> views these developments<\/span><\/a> as paving the way for a possible settlement. As the legal skirmish enters its remedy briefing phase, discussions between Ripple and the SEC are set to intensify. Both parties are presumably more inclined towards a mutually agreeable resolution, avoiding further litigation. This scenario is becoming increasingly plausible as the case progresses, with implications for the broader cryptocurrency regulatory landscape.<\/span><\/p>\n

Read Also:<\/b> Ex-ConsenSys AG Staff Sue Founder Lubin, Alleging Equity Fraud<\/span><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n