When the United States Securities and Exchange Commission filed legal action against Ripple Labs and its top-two executives in December, alleging that its XRP coin was in fact a security and that. The Ripple lawsuit consists of reclaiming that XRP is a currency as a part of XRP digital assets. Required fields are marked *. This cookie is set by GDPR Cookie Consent plugin. If Ripple wins its case, it will not have to pay out any money and will be able to continue working on projects like those mentioned above. #XRP returns to battling #Ether for the number 2 spot. If Ripple wins the lawsuit, then two things will happen that are terrible for the SEC: They will look weak losing a large, high profile lawsuit. 2023 FinanceFeeds Limited. According to a Bitcoinist report, CBDCs are a key focus for the payment giant in 2023 and Brooks Entwistle, Managing Director of APAC reaffirmed this stating that Ripple is a solution provider to which central banks and authorities can turn. Its up in the air [to be honest], Deaton admitted as he offered an educated guess on how things might go down in the event that XRP is deemed a security. Those implications could cause the SEC to avoid a trial or Summary Judgment. The author has not received compensation for writing this article, other than from FXStreet. How are things shaping up for XRP holders in the Supreme Court, and what can we expect to happen after the dust has settled? The sixth-ranked cryptocurrency by the market currently controls a market cap of $18.6 billion. The Ripple (XRP) Lawsuit: What You Need to Know | Nasdaq What Would Happen to XRP if Ripple Wins the SEC Lawsuit? But what regulatory authorities can do is sit at first base and force the out. Ripple CEO: US Is Falling Behind Over SECs XRP Suit, Voyager Users Vote for Binance US Takeover: Regulators Claim Deal Leaves Execs Off the Hook. Why Ripple thinks it's going to win. Cardano (ADA) price sees bulls leaving the scene as ADA tanks on Friday morning. Thus, I wouldnt let the noise of the Ripple lawsuit affect your decision-making process regarding XRP. Ripple CEO Reveals What Will Happen if SEC Wins Lawsuit - U.Today Japanese banks to trial stablecoin payment system, Binance adds support for African currencies: Liberia, Sierra Leone, Gambia, Mauritania, Cape Verde, InvestCloud launches front-to-back single solution for advisors and wealth managers, Step launches stock investing for teens and young adults. SEC vs Ripple: Will One Lawsuit Decide the Fate of the Crypto Industry? FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Adding salt to the wound, Ripple claims that the SEC is inconsistent in regulating cryptocurrency and suffocates an innovative and progressive industry. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
