The ongoing legal battle between Ripple and the SEC has taken a new twist with the recent filing of a notice of appeal by the SEC in the Second Circuit Court. While rumors have circulated about the SEC potentially dropping certain claims, the reality is more nuanced.
SEC Appeal and Individual Claims
The SEC’s appeal focuses on three key points: the sale of XRP through exchanges, Ripple’s distribution of XRP to employees, and the sales made by executives Brad Garlinghouse and Chris Larsen. While the SEC has dropped certain claims against Garlinghouse and Larsen related to aiding and abetting Ripple’s illegal institutional sales, the remaining individual claims against them are still active.
Read more:XRP Investors Beware: Ripple Just Sold 200 Million Tokens—What’s Next?
Misunderstanding and Clarifications
A recent post on X mistakenly suggested that the SEC might be in trouble due to a missed deadline for filing a notice of appearance. However, former SEC lawyer Marc Fagel clarified that this issue is unrelated to the SEC and concerns defendant/appellee Larsen’s legal counsel.
Read more:Ripple’s Chris Larsen Shocks the Crypto World with $10 Million XRP Donation to Kamala Harris!
Growing Institutional Interest in XRP
Despite the ongoing legal battle, interest in XRP is growing among institutional investors. Bitwise has recently filed to establish an XRP exchange-traded fund (ETF) in Delaware, although this filing is not with the SEC and could face delays due to the current appeal.
Read more:Ripple’s Rollercoaster: How One Comment from Elon Musk Added $1 Billion to XRP!
The Road Ahead
The Ripple vs. SEC case remains complex and uncertain. While the SEC has dropped certain claims, the overall outcome of the case remains to be seen. The growing institutional interest in XRP suggests that the token’s potential is recognized, even amid the legal challenges.
As the case progresses, it will be crucial to monitor the SEC’s appeal and the potential impact on XRP’s future. The outcome of this case could have significant implications for the broader cryptocurrency market.
