Top executives from Ripple, Brad Garlinghouse and Chris Larsen, have provided their availability for the upcoming trial in 2024 in the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC), as the SEC appeals the court's ruling that XRP is not a security.
Ripple's recent legal victory against the SEC has brought much-needed regulatory clarity to the cryptocurrency industry, but XRP's price has since declined due to bearish market sentiment and short-term holders offloading their holdings.
Former SEC officials’ testimony could have classified XRP as a non-security, undermining the SEC’s allegations against Ripple CEO Brad Garlinghouse.
Ripple attorneys are preparing for the SEC's appeal in the lawsuit, with a focus on the Howey Test and former SEC official William Hinman's speech, while XRP is at risk of closing September with losses based on historical trends and struggles to start an upward trend.
Lawyers representing Ripple in its lawsuit with the SEC argue that the regulator has not met the requirements to request an appeal in the case regarding the classification of XRP as a security for sales to retail investors.
Ripple has objected to the SEC's motion to file an interlocutory appeal, arguing that the SEC failed to establish the conditions necessary for approval; meanwhile, Ripple's XRP token has seen a strong start to the month with high on-chain metrics.
Ripple opposes the SEC's request for an immediate appeal in the recent lawsuit ruling, arguing that the appeal does not meet the necessary requirements and will only prolong litigation.
A court ruling that declared Ripple's XRP token not a security offering may signal a shift in the US legal system's approach to cryptocurrency regulation and ongoing SEC lawsuits.
Ripple Labs' legal counsel accuses the SEC of hypocrisy for seeking an appeal in the recent XRP court ruling after claiming that the rules were clear and must be followed.
A federal judge ruled that Ripple's sales of the token XRP to retail purchasers were not unregistered sales of "securities," while another judge ruled that the stablecoin UST and the token LUNA were sold as "securities," setting the stage for the SEC's suit against Coinbase and creating legal uncertainty for the broader crypto industry.
A federal judge has rejected the U.S. Securities and Exchange Commission's bid to appeal its loss against Ripple, causing XRP's price to rally by 5%.
The recent court order denying the SEC's interlocutory appeal against Ripple has divided crypto lawyers and commentators, with some considering it a win for Ripple, while others caution against excessive enthusiasm and point out that the SEC can still appeal the case after the trial.
A U.S. federal judge rejects the SEC's bid to appeal against Ripple, causing XRP's price to rally, while FTX founder Sam Bankman-Fried's trial continues with a dispute over the evidence, and a new data platform developed by the Bank for International Settlements could support future regulation of the crypto market.
A US judge denied the Securities and Exchange Commission's attempt to appeal a ruling that digital tokens are not securities when sold to the general public, dealing another blow to the agency's efforts to regulate the crypto industry.
A crypto analyst expresses bullish sentiment on XRP after a US court rejects the SEC's attempt to appeal a decision in Ripple's favor, stating that XRP sales did not violate securities laws, while also sharing bearish sentiments on Ethereum and bullish expectations for Bitcoin's support level.
Judge Analisa Torres rejected the SEC's motion to appeal its loss against Ripple Labs, allowing the XRP price to surge; however, a trial is scheduled for April 2024 to address remaining issues in the case.
The United States Securities and Exchange Commission (SEC) plans to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen in their ongoing civil lawsuit, although the case against Ripple itself is not yet dropped. The SEC's decision to drop the charges against Garlinghouse and Larsen, who were accused of violating securities laws through the sales of XRP tokens, may indicate a potential appeal regarding the court's ruling on XRP's security status. The SEC has other ongoing cases involving prominent figures in the crypto industry, as well as civil lawsuits against crypto exchanges Binance and Coinbase.