- Ripple has been accused of engaging in similar violations to past ones by the SEC.
- The ongoing legal fight could be further complicated by a potential SEC appellate action.
There is a new twist in the ongoing dispute between Ripple The U.S. Securities and Exchange Commission has reacted to Ripple’s latest filings regarding the Consent Judgment. echoed by Jack The Rippler, crypto enthusiast.
🚨SEC Responds to BREAKING NEWS @RippleThe letter from regarding TerraForm Labs’ Consent Judgment.
SEC may be demanding a settlement of $102.6 Million. #XRP
💥 SATISFACTION IF NOW COMING! 💥 pic.twitter.com/NJFZHzuWty
— JackTheRippler ©️ (@RippleXrpie) June 15, 2024
SEC accuses Ripple similar practices
Bill Morgan Attorney for XRP revealed The SEC has charged Ripple “awfully similar” Actions to previous infractions. The SEC’s legal system and its dispute with XRP are further complicated by this charge. Ripple’s The On-Demand liquidity service (ODL).
Ripple has been accused of continuing to conduct illegal activities by the SEC “awfully similar” The conduct which led to the original violation should be considered. There is a warning but what can the Judge do with that as the record before her does not allow her to decide if Ripple’s current ODL… https://t.co/agrTohdpzy
— bill morgan (@Belisarius2020) June 14, 2024
SEC says that Ripple’s ODL sale methods are the same as those previously deemed illegal. Despite the SEC warnings, there are no records that allow the court to verify if current laws apply.
Legal experts predict that as this ongoing conflict continues, the final verdict in SEC v. Ripple labs may be announced by July.
It is possible that there are other possibilities. SEC If the judge’s summary judgment in July is appealed, it complicates legal discussions. It is the decision of Judge Torres that XRP programmematic sales do not constitute security contracts, which remains a major point of disagreement. Both sides are on edge due to the ambiguity and potential for further legal complications.
As of the date this article was written, XRP had a value of approximately $0.4787The. 0.21% CoinMarketCap’s data shows that Bitcoin has declined by about 5% in the last 24 hours. A decline of 4.13% During the last seven days this also indicates a negative position.
Ripple is also supported Terraform LabsAs ETHNews reported previously, the SEC’s penalties of $4.47 billion were deemed irrational.
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Source: www.crypto-news-flash.com
