- Ripple has been accused of similar violations by the SEC in previous years.
- 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 Ripple has filed its most recent documents relating to the Consent Judgment with the U.S. Securities and Exchange Commission. echoed by Crypto enthusiast Jack The Rippler.
🚨SEC Responds to BREAKING NEWS @RippleLetter from relating to the TerraForm Labs Consent Judgement
SEC may be asking for an amount of $102.6 Million in a settlement. #XRP
đź’Ą A SETTLEMENT IS COMING! đź’Ą pic.twitter.com/NJFZHzuWty
— JackTheRippler ©️ (@RippleXrpie) June 15, 2024
SEC accuses Ripple similar practicesÂ
Bill Morgan, Attorney at Law for XRP revealed The SEC has charged Ripple “awfully similar” Actions to previous infractions. This charges further complicates an already complicated dispute between XRP & the SEC & the legal environment. Ripple’s Service of On-Demand liquidity (ODL).
Ripple is still engaging in illegal conduct, according to the SEC “awfully similar” To the conduct that led to the violation. 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 found to have been illegal. In spite of 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 The legal debate would be further complicated if the summary judgment of July were appealed. 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.
XRP is currently valued at approximately $0.4787The. 0.21% According to CoinMarketCap, Bitcoin prices have fallen by 7% in the past 24 hours. The decline in price was 12%. 4.13% This does however also show a bearish situation.
Ripple also supports Terraform LabsCNF reported previously that the SEC’s penalties of $4,47 billion were irrational.
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Source: www.crypto-news-flash.com