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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Apr 13, 2024 04:44 UTC
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Ripple vs SEC Court Rulings Favor Ripple: Is a Settlement Coming?
Recent court decisions and a surprise settlement conference suggest the SEC may struggle to prove their case against Ripple.
The SEC is increasing scrutiny of the crypto market, investigating Ethereum and Uniswap.
Despite potentially positive legal developments, XRP's price has dropped significantly.
In the ongoing Ripple Labs versus the Securities and Exchange Commission (SEC) showdown, Ashley Prosper has emerged as a key player, sparking lively discussions with her Twitter updates.
Let’s delve into the latest developments she’s highlighted, offering a comprehensive view of this gripping legal drama.
So, What’s the Disgorgement Dilemma?
Prosper shed light on a crucial insight from the 2nd Circuit Court: the SEC’s inability to enforce disgorgement without concrete proof of financial losses to investors. This revelation carries significant weight for Ripple’s defense, as the SEC struggles to demonstrate any tangible harm suffered by investors in its case against the company.
Prosper revealed an impromptu settlement conference called after the SEC’s failure to back up investor losses in their legal brief. This extended meeting unfolded against the backdrop of Ripple’s silence in response to the SEC’s filings, adding intrigue to the legal proceedings.
Read More About This: Ripple vs SEC: No Investor Loss, No Disgorgement? SEC Position Weakens!
Prosper didn’t just focus on Ripple; she also highlighted the SEC’s scrutiny of Ethereum and its issuance of a Wells notice to UniSwap, signaling broader regulatory waves rippling through the crypto sphere.
Ripple’s Ups and Downs
She also pointed out major developments within Ripple, such as their announcement of stablecoin plans and the unscheduled unlocking of escrow funds, alongside legislative progress on stablecoin regulation in both the House and Senate.
Amidst these developments, Mr. Huber, a respected crypto expert, expressed concern over XRP’s substantial decline compared to other cryptocurrencies. Despite positive news, he cautioned against overlooking potential risks, especially in a bullish market.
Ripple’s Chief Legal Officer Stuart Alderoty seized upon a recent blow to the SEC in the Aron Govil case, interpreting it as a positive sign for Ripple’s defense.
Echoing Alderoty’s optimism, Lawyer Bill Morgan emphasized the importance of proving financial harm, potentially tipping the scales in Ripple’s favor.
While optimism brews within Ripple’s circles, the ultimate outcome remains uncertain, pending Ripple’s responses to the SEC’s allegations.
Read More: Ripple Stablecoin Aims to Conquer $2.8 Trillion Market: Is This the End for Tether?
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