The ongoing battle between Ripple and the United States Securities and Exchange Commission has seen significant advances. In the stage of remedies, the SEC filed its final response. Analysts predict that the final verdict in this case will be reached around September.
Ripple’s claims that they acted recklessly and there shouldn’t be any remedies were challenged by the SEC in its response to their recent remedy brief. “widespread uncertainty” XRP is not legal, despite previous court rulings. “fair notice” defense.
SEC maintains the same position on whether Ripple will engage in future actions similar to this.
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SEC argues against Ripple’s cooperation claims
In the remedies brief, Ripple states it has attempted to minimize its liabilities while highlighting its co-operation with the SEC ever since the 2013 XRP Initial Coin Offering. The SEC, however, has stated that even though Ripple may have abstained since 2020 from violating the law, a breach is still possible.
SEC says that Ripple has not changed its behaviour as a result of the suit, and therefore injunctions are unnecessary. The SEC claims that Ripple does not understand the court’s order or its implications for compliance. In its response, the SEC challenges Ripple’s claims regarding sales made outside of the United States to accredited investors.
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Stuart Alderoty’s Chief Legal Officer, Ripple, responded to the SEC arguments in the remedy brief by speaking on the decline of the SEC. He noted that the SEC’s reputation was declining. financial The SEC has compared its efforts to that of issuing fishing permits, which regulators who have robust crypto licensing structures might find surprising.
Alderoty criticized for the inconsistent way the commission applied the law, and expressed his optimism that the XRP case would be resolved.
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The SEC is steadfast in their stance as the company expands its global operations and continues to maintain its position. The SEC’s stance is unwavering as the company continues to expand its global operations and uphold its stance.
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Source: watcher.guru