{"id":356164,"date":"2024-09-26T05:38:13","date_gmt":"2024-09-26T00:08:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=356164"},"modified":"2024-09-26T05:38:13","modified_gmt":"2024-09-26T00:08:13","slug":"ex-sec-reveals-agencys-appeal-strategy-as-deadline-nears-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ex-sec-reveals-agencys-appeal-strategy-as-deadline-nears-crypto-news\/","title":{"rendered":"Ex-SEC Reveals Agency’s Appeal Strategy As Deadline Nears – Crypto News"},"content":{"rendered":"

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The XRP lawsuit has been on the investors\u2019 radar lately, with the long-continued battle concluding in August. However, the latest developments hint at a potential appeal by the US SEC in the case, which could further start another phase in the Ripple case. Amid this, ex-SEC lawyer has shared insights on the potential appeal strategy of the agency, if it plans to move ahead with such plans.<\/p>\n

US SEC\u2019s Potential Appeal Strategy In XRP Lawsuit<\/h2>\n

The XRP lawsuit has been one of the closely watched legal battles in the crypto space. Meanwhile, last month, Judge Torres ordered Ripple to pay a penalty of $125 million, concluding the long battle. However, the blockchain firm has received a stay order from the court for its penalty payment.<\/p>\n

<\/p>\n

Now, with the October deadline approaching, speculations are soaring over a potential US SEC appeal<\/a> in the case. According to ex-SEC lawyer Marc Fagel, the agency\u2019s appeal strategy will likely focus on challenging the ruling that programmatic sales, i.e. sales made through intermediaries were not unregistered securities offerings.<\/p>\n

In response to a recent X discussion, Fagel clarified that the appeal wouldn\u2019t revolve around penalties but rather the legality of these sales. He emphasized that if the SEC does proceed, it will aim to overturn this part of the ruling.<\/p>\n

<\/p>\n

The likelihood of an appeal has been a hot topic. Another ex-SEC lawyer James Farrell suggests<\/a> a 75% chance of the agency moving forward with an appeal in the Ripple Vs. SEC lawsuit. Meanwhile, the lawyers have argued that anything less than an appeal could weaken the agency\u2019s position in future crypto-related cases.<\/p>\n

XRP Price Sees Volatility Despite Ripple Defying Appeal Claims<\/h2>\n

XRP price<\/a> has noted highly volatile trading lately, while currently trading at $0.5834, down 1.4%. Its trading volume also slumped 2% in the last 24 hours to $992.51 million. Notably, the crypto has touched a high of $0.5949 in the last 24 hours, reflecting the volatile picture.<\/p>\n

<\/p>\n

However, talking about the XRP lawsuit, Ripple CEO Brad Garlinghouse, and CLO Stuart Alderoty said that the case is over. In addition, they also denied claims of any potential appeal, which have sparked discussions in the market.<\/p>\n

Meanwhile, with the October 7 deadline fast approaching, some experts believe the SEC may still file a last-minute appeal<\/a>. Notably, a potential appeal could prolong the case and affect the future of XRP in the market, while many expect a cross-appeal by Ripple if the agency moves ahead with its plan.<\/p>\n

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Rupam Roy <\/p>\n<\/p><\/div>\n

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
\nRupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n

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The XRP lawsuit has been on the investors\u2019 radar lately, with the long-continued battle concluding in August. However, the latest developments hint at a potential appeal by the US SEC in the case, which could further start another phase in the Ripple case. Amid this, ex-SEC lawyer has shared insights on the potential appeal strategy […]<\/p>\n","protected":false},"author":2,"featured_media":327883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-356164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=356164"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356164\/revisions"}],"predecessor-version":[{"id":356171,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356164\/revisions\/356171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/327883"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=356164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=356164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=356164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}