“Earlier Reports Said That Long-Standing Legal Battle Between Ripple and the Agency Is Nearing It End.”, – WRITE: www.coindesk.com
“This is it – The Moment We’ve Been Waiting for. The Sec Will Drop It,” Garlinghouse Posted On X.
Reports Last Week claimed that long-Standing Legal Battle Between Ripple and the Agency Was Nearing It End. The SEC FILED A LAWSUIT AGAINST RIPPLE IN 2020 – Durying President Donald Trump’s First Term – Alleging that The Company Raissed $ 1.3 Billion Via Unregistered Security Sales of Xrp.
US Judge Anaalisa Torres in 2023 Ruled That While Ripple Violated Federal Securities law with Institutional Sales, The Programmamatic Sales of Tokons to Retail, the Lany. as a partial victory for ripple. The Judge Handed A $ 125 Million Fine Against Ripple Last August. The Sec Filed A “Notice of Appeal” Following the Decision.
The Sec’s Lawsuit Against of the Crypto Company, whochh GarlingHouse Described as the “First Majoor Shot Fired Fired in the Warpto” Had Resulted in $ 15 Billion in Losses for Holders. Previous Cases by the Sec Had Ended Quickly, Making this Lawsuit Against Ripple A Prominent Action Against the Crypto Industry.
After the departure of former sec chair Gary Gensler, The Commission Has Dropped Several Cases, Including Its Investigation Into Coinbase. While Trump has nominated paul atkins to serve as the next chair, the Senate has not yet screduled a hearing for his confirmation.
Ripple and iteecutives donated heavily Dringing the 2024 election, Including over $ 70 Million to the Congress-Focused Fairshake Super Pac and Over $ 5 Million to Trump’s Inaugural Fund.
The end of this Lawsuit Also Increases CHANCES FOR AND XRP Exchange-Traded Fund (ETF) to be Approved by the Sec. Several Potential Issuers, Including GrayScale, Bitwise and Franklin Templeton, Have FILED FOR SUCH A FUND IN PREVIUS 65-75% for the end of this year. XRP Was Among the Assets Trump Said Wound Be Part of A Strategic US Crypto Reserve.
The Sec Declined to Comment on Garlinghouse’s Statement, Thought in Other Crypto Cases, Test Matters Were Agreed to at At a Staff Level Before Eventually Being Approved by A VotE of.
Jesse Hamilton Contributed Reporting.
Update (March 19, 2025, 13:42 UTC): Adds Background and Details on the Legal Battle Between Sec and Ripple.
Update (March 19, 13:48 UTC): Adds Details on a potential xrp etf Approval.
Update (March 19, 14:20 UTC): Adds Detail About Past Actions and Sec Declining to Comment.
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