- SEC’s conclusion of Ethereum 2.0 investigation has influenced Ripple’s court battle.
- XRP is seeing a modest increase amid major regulatory changes.
Latest cryptocurrency news XRP experienced a modest increase The previous day, the market fell by 0.51% and closed at $0.4939. This is a partial recovery. The SEC announced that it had concluded its investigation. This coincided with the market movements. Ethereum 2.0 Without any plans to file charges, this is a major development for Ethereum and the wider crypto industry.
Ripple’s Legal Implications
Highlighted in Today’s CNF YouTube VideoThis ruling could influence ongoing litigation, including Ripple. Despite a previous ruling by Judge Analisa Torres, which found that XRP’s sales to institutional investors violated US securities laws, the broader implications of the SEC’s stance on Ethereum could affect future legal outcomes regarding Ripple’s programmatic sales.
Coinbase’s Regulatory Challenges
The crypto community also closely follows Coinbase’s legal battles, since the company is appealing a ruling related to the operation of its unregistered exchange.
The outcome could further shape the regulatory landscape for digital assets in the U.S. Investors and market watchers are advised to stay tuned for further developments, particularly regarding the SEC’s actions and legal proceedings, which continue to play a pivotal role in the cryptocurrency market’s dynamics.
Consensys and Ethereum 2.1
According to a tweet by Leanor Terrett, a Fox Business Journalist, she reached out to Consensys founder Joseph Lubin for comment on the SEC’s decision to drop its investigation into Ethereum and its implications for their ongoing lawsuit against the agency. Lubin has confirmed that they will continue to fight despite the SEC’s decision.
New: I reached to you @Consensys The following are some of the most common questions asked by those who seek to understand how they can best help others. @ethereumJoseph Please comment. @SECGov The investigation has been dropped into $ETH What it means to their suit against the agency. He said the firm still intends to go forward:
“The SEC's decision to close its…
— Eleanor Terrett (@EleanorTerrett) June 20, 2024
Terret told Lubin about his experience.
The SEC’s decision to close its 14-month investigation into Ethereum is a welcome development – it’s necessary but not sufficient. Ambush regulation is not the best way to control the market. Our hope is that some US regulators will begin to change their stance on crypto and move beyond the guerrilla-style tactics they are currently using. At least until that time, we will keep fighting the SEC’s Texas lawsuit because our goal is to bring more legal clarity.
On Tuesday, following Lubin’s remarks, Consensys officially announced that the SEC ended its investigation into Ethereum 2.0, stating,
We’re pleased to share with you today a big win for Ethereum developers and technology providers. The Enforcement Division at the SEC informed us it was closing its investigation on Ethereum 2.0. The SEC won’t bring charges claiming that sales of ETH constitute securities transactions.
Market Performance of XRP
CNF reported earlier that XRP has kicked off the week with a significant rise, defying the broader market where most coins slid further after a slow weekend. XRP is trading at a price of $0.01 even though Ripple has continued to lobby for a smaller fine from SEC. $0.4979After a surge of momentum 1.41% Yesterday and today 2.16% The past week has been a busy one.
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Source: www.crypto-news-flash.com