Ripple vs SEC Final Judgement Soon : SEC Files Redacted Remedies Reply Brief
What's Next for XRP ?
The U.S. Securities and Exchange Commission (SEC) has responded to Ripple’s claims with a remedies brief. Ripple, a blockchain company in a legal battle over its cryptocurrency XRP, says it hasn’t done anything wrong since the lawsuit started in 2020. But the SEC disagrees, saying Ripple's past actions suggest it might break the rules again.
Recurrence of Past Actions
The SEC contends that Ripple's history of unregistered XRP sales poses an ongoing risk. Despite Ripple's claims of cooperation since its 2013 ICO, the SEC underscores the continuing concern over the legality of Ripple's operations.
Ripple’s Defense
Ripple seeks to mitigate its liability by emphasizing compliance efforts and cooperation with the SEC. Nevertheless, the SEC reiterates that compliance does not absolve Ripple of future violations.
Ripple Responds
Ripple's Chief Legal Officer, Stuart Alderoty, criticized the SEC's interpretation of the law.
Alderoty expressed optimism about resolving the lawsuit but hinted at a protracted legal process ahead. Despite anticipation within the crypto community for a resolution, analysts predict a final judgment may not arrive until September.
The SEC's submission of the remedies brief marks another chapter in the ongoing legal saga between Ripple and the regulatory body. While Ripple contends its compliance, the SEC remains concerned about past actions and potential future violations. As the case unfolds, the crypto community awaits clarity on XRP's regulatory status, with implications extending beyond this dispute.
For more detailed information on this ongoing saga and its implications for the cryptocurrency world, visit Coinpedia's website.
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