XRP Case Update: SEC to Deliberate Ripple’s Decision to Withdraw Its Appeal Today
Main Idea
The SEC is set to deliberate on Ripple's decision to withdraw its appeal in the ongoing legal case, which could solidify XRP's non-security status and impact the broader crypto regulatory landscape.
Key Points
1. The SEC will hold an internal deliberation on August 7 to decide whether to accept Ripple's withdrawal of its appeal, potentially finalizing XRP's non-security status.
2. The case originated from a 2020 SEC lawsuit alleging Ripple's XRP sales were unregistered securities, but a 2023 court ruling partially favored Ripple by distinguishing institutional sales from public exchange sales.
3. If the SEC drops its appeal, Judge Torres's 2023 ruling would stand, providing legal clarity for XRP and possibly enabling Ripple to expand institutional partnerships and products like spot XRP ETFs.
4. The outcome could influence broader crypto regulation in the U.S., with the crypto industry closely monitoring the decision.
5. Ripple has agreed to pay a $125 million fine, but the SEC has yet to finalize the withdrawal, leaving the case unresolved pending the deliberation.
Description
A critical moment in the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is set to unfold today. At 03:00 UTC on August 7, the SEC is expected to hold an internal deliberation to decide on Ripple’s decision to withdraw its appeal, according to Coindesk. The outcome could permanently cement XRP’s non-security status under U.S. law—a development that may finally lift the regulatory cloud that has hovered over the token for years. Ripple vs. SEC: Where...
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