BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Ripple vs SEC: A Celebrated XRP Win Tinged with Uncertainty Amid Legal Challenges

by Matoy
August 12, 2024
in BREAKING NEWS, CRYPTO
Reading Time: 2 mins read
A A
3
SHARES
56
VIEWS
Share on XShare in TelegramShare on Reddit
  • Ripple’s long-standing legal battle with the SEC concludes, with a significant reduction in proposed fines from $2 billion to $125 million.
  • Some legal experts question the extent of Ripple’s victory, citing ongoing regulatory uncertainties and potential future challenges.
  • The SEC retains the option to appeal, especially concerning classifications of XRP sales, with a focus likely on institutional transactions.

Ripple has reached a settlement with the U.S. Securities and Exchange Commission (SEC), marking the end of a contentious four-year lawsuit. The settlement, approved by Judge Analisa Torres, significantly reduces the fine Ripple was facing from the initially proposed $2 billion to $125 million.

Legal Battle and Its Implications

Ripple, a major player in the cryptocurrency market known for its XRP token and payment solutions, found itself at odds with the SEC over allegations of conducting unregistered securities offerings. Ripple’s CEO, Brad Garlinghouse, hailed the court’s decision as a victory, noting that it lifted major legal challenges against XRP and would foster positive industry growth.

The resolution was immediately reflected in the market, with XRP’s price surging 26% following the announcement. However, the celebration within the XRP community may be premature or at least tempered by the complexities yet to unfold.

Legal Experts Weigh In

Despite the reduction in fines, some legal experts remain skeptical about declaring a clear victory for Ripple. Philip Moustakis, a lawyer and former SEC counsel, pointed out the broader ramifications of the lawsuit, including the substantial financial burden of legal fees, the operational disruptions, and the lingering regulatory ambiguity surrounding digital currencies.

“The resolution of this case leaves much to the business and legal community to ponder, especially regarding the application of securities laws to cryptocurrency transactions,” Moustakis commented. This sentiment reflects a broader uncertainty that persists in the regulatory landscape for cryptocurrencies.

Potential for an SEC Appeal

Adding to Ripple’s ongoing challenges is the possibility of an SEC appeal. The agency has a 60-day window from the ruling to contest the judge’s decision, particularly aspects of the judgment pertaining to how XRP is classified in different contexts. This potential move by the SEC could ignite another round of legal scrutiny and debate over the nature of digital assets.

Tweet1ShareShare
Previous Post

Solana Faces Correction with $15 Million in Liquidations and Here is Why

Next Post

Bitcoin Mining Giant Marathon Digital Holdings Announces $250 Million Convertible Notes Offering

DON'T MISS THESE! HOT OFF THE PRESS

Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Load More

Related News

Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.