#1. Rippleโs Legal Dispute with the SEC Continues
On July 13, 2023, a United States judge ruled that Rippleโs XRPย Rippleย (XRP) token is not considered a security in the companyโs legal battle with the SEC. Althoughย while the final verdict is still pending, this ruling has sparked wholeย lotย of interest in the digitalย currency market.
#2. SECโs Interlocutory Appeal
As expected, the SEC filed a motion requesting the Unitedย States District Court to certify for interlocutory appeal, arguing that the case was wrongly decided. The SEC believes that a swift appellate resolution of the two rulings will address probable violations and have a wholeย lotย of influence on ongoing legal proceedings against other entities.
#3. Rippleโs Objection and Trial Date
Ripple objected to the SECโs decision to pursue an interlocutory appeal, stating that there are no substantial legal issues at stake. The SEC fired back, asking the court to approve its appeal motion. Inย theย meantime, a trial date against Rippleโs top executives has been set for the Second quarter of 2024.
Hot Take
The outcome of Rippleโs legal dispute with the SEC will provide clarity on the status of XRPย Rippleย (XRP) and the classification of securities in the digitalย currency market. Until then, the value of XRPย Rippleย (XRP) remains closely tied to the caseโs resolution.
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