A long fight between the SEC and Ripple is progressing, as far as we can tell, and the results may have a big impact on the crypto sector.
In the wake of major crypto market setbacks, some crypto companies are in ruins under the strain of liquidity demand. The industry needs a spark of hope and Ripple could be the one that brightens the mood.
On Dec. 2, Ripple Labs, the company behind XRP, submitted its “Redacted Reply” to SEC’s opposition.
The lawsuit’s plaintiff, the U.S. Securities and Exchange Commission also sent a redacted document to the court. The case is expected to reach a settlement on Dec. 9.
Ripple Won’t Back Down
Ripple asked the court to grant a summary judgment in its favor, noting in its public brief that the allegation that XRP was an unregistered security is unproven.
The party’s conclusion suggested the court should settle the case in Ripple’s favor and refute SEC’s claims.
Stuart Alderoty, General…
