Ripple Shows No Signs of Backing Down in Legal Battle with SEC
Ripple’s President, Monica Lang, has made it clear that the company is prepared to fight the ongoing legal battle with the US Securities and Exchange Commission (SEC) until the end. Lang emphasized that a recent ruling by Judge Analisa Torres, which stated that XRP is not a security, has given Ripple clarity and strengthened their resolve. She believes that this decision will allow Ripple to expand its business globally. Since the SEC sued Ripple in December 2020, the company has opted to face the Commission in court rather than pursuing a settlement. In July, Ripple achieved a significant victory when Judge Torres ruled in favor of the company, stating that XRP is not a security. Experts predict that the Commission may lose if the court grants their request to appeal the decision. Ripple sees this case as an opportunity to regain investor confidence, as the lawsuit has previously affected the company’s business deals. The trial is scheduled for the second quarter of 2024, and a potential interlocutory appeal could further prolong the legal proceedings.
Hot Take: Ripple Remains Resolute in Its Legal Battle
Ripple’s decision to continue fighting the SEC’s lawsuit demonstrates the company’s determination to establish its position and defend its cryptocurrency, XRP. The recent ruling that XRP is not a security has given Ripple a significant advantage and opened up possibilities for global expansion. By refusing to settle, Ripple aims to not only secure a favorable outcome but also restore trust among investors. The SEC’s intent to appeal the ruling suggests that the legal battle is far from over. However, if experts’ predictions hold true, the Commission may face another setback. As the case proceeds, Ripple will navigate the court’s decisions, potentially enduring a lengthy process that could last beyond 2024. Nevertheless, Ripple’s unwavering stance sets the stage for a pivotal showdown that could shape the future of cryptocurrency regulations.
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