During changes to the US Stocks and Securities Commission in favour of cryptocurrency (safety) I’m coming to an end.
However, in the case against Ripple, despite the SEC’s interest in resolving all pending cases, there are several legal obstacles that have not been presented to other demands in which Gary Gensler’s presidency occurred. And what is this I might have the case entangled.
Thus what was considered a victory for Ripple is now manifesting as a complication. And in July 2023, federal judge Annalisa Torres was called XRP. safety In some cases, not in other cases.
Torres’ opinion establishes that Ripple violated federal securities laws by selling XRP directly to institutional clients, but did not do so by placing cryptocurrency in exchanges so that retail customers would buy it.
Considering that there was a partial violation of the US Securities Act Applied a fine of USD 125 million The company has promised to pay.
The ruling included a permanent court order that hindered the company. Sell XRP to institutional investors.
This is exactly what makes things complicated. The situation became more complicated after the file was handed over to the Second Circuit after an appeal last January that introduced the SEC administered by Gensler.
The above explains the decision to delay the SEC with new authorities following Donald Trump’s guidelines. In that sense, analysts comment that the agency is Negotiation process with Ripple.
In this regard, Fox business journalist Eleanor Terret believes that the delay in reaching an agreement is due to Ripple’s legal team. Negotiating more favorable terms Regarding the court’s decision.
The company is looking for SEC Dismiss the caseas he requested for the exchange of Coinbase and Kraken, he chose a 60-day suspension to assess the situation in Binance.
What is expected is that the same thing happens with Ripple, and looking at the delays increases expectations, which is what happens in this case.
As I’ve said, the argument is why Ripple should be punished if he has a blurred and new account for all previously approved cryptocurrency companies, as he believes that regulatory clarity will solve the underlying issue.
Eleanor’s fear.
In this new context, it is intended I admit that an irregularity occurred I don’t know if that SEC itself has committed.
The idea is supported by James Murphy, a cryptocurrency expert lawyer.
“Verification of violations of securities laws is not that good for Ripple,” explains Murphy taking into account the company’s interests. To start your first public offering or IPO. This also complicates negotiations for the XRP ETF.
The order and reasoning behind the sentence is a time bomb of ripples. Even planned quotes on the stock exchange will be at risk. This is because investors will not bet on companies called “criminals” by court order.
James Murphy.
At this point, cryptocurrency analyst Jeremy Hogan says there is an incident given the complexity of the situation. It couldn’t be resolved immediatelyas many people say. “The only way a case can be over soon is whether Ripple and the SEC will reach a private mediation agreement and dismiss the appeal,” he says.
The SEC must accept that it will not implement a court order. I think it’s hard to believe that the SEC will accept it, but you can accept something more indirect, such as providing Ripple with a way to register XRP sales with institutional investors (for example). That means Ripple can get what he needs, but the SEC doesn’t explicitly expose the court’s order.
Jeremy Hogan.
However, in order for Ripple to cease qualifying as an infringing entity, both parties may have Please ask Judge Torres to change the sentence Oral statement in 2023. It takes more time.
It is then understood that the negotiation process is fully underway. This is expected to have an established deadline Next April 16th Ripple must provide an opening brief with a cross appeal to the SEC.
As Cryptonoticia reports, everything indicates that demand is still in unknown territory. Most analysts are optimistic, but they understand that It’s not easy to unlock The legal intertwining of the case.
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