Are you keeping a close eye on the Ripple vs. SEC case? Speculation about a possible settlement has been intensifying, especially after Ripple CEO Brad Garlinghouse’s recent interview where he mentioned he couldn’t comment on discussions with the SEC. The SEC has had a closed meeting and canceled two others since that mid-July interview. The next closed meeting is scheduled for August 8, with the same agenda as the previously canceled August 1 meeting.
But why is a potential settlement so significant? Investors are eagerly awaiting a remedies-related court verdict in the SEC vs. Ripple case. Back in July 2023, Judge Torres ruled that Ripple had violated US securities laws by selling unregistered XRP to institutional investors. Judge Torres also ruled that programmatic sales of XRP did not meet the third prong of the Howey Test.
If a settlement is reached, it could prevent the SEC from appealing the judgment on programmatic sales. This could potentially clear the path for ETF issuers to apply for XRP-spot ETFs in the US market. The introduction of a US XRP-spot ETF market could lead to a surge in demand for XRP.
Stay updated on the latest developments in the Ripple vs. SEC case and how it could impact the future of XRP and the broader cryptocurrency market. Visit Extreme Investor Network for more insights and analysis on this and other key investment opportunities.