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As we dive into the latest developments in the SEC vs. Ripple case, investors are on edge awaiting the final verdict on Ripple breaching US securities laws. The case has been a hot topic in the financial world, with both parties presenting their arguments for and against severe penalties.
Will the Binance ruling support a less severe penalty for Ripple breaching US securities laws?
In March 2024, the SEC filed its remedies-related opening brief seeking a hefty penalty of nearly $2 billion and an injunction against XRP sales to US institutional investors. Ripple, on the other hand, argued for a much lower penalty of $10 million, emphasizing their compliance post-complaint and the absence of fraud or recklessness.
With the SEC likely to respond to the Supplemental Notice of Authority, the industry is buzzing about how the Binance ruling could impact the outcome of the case. Will the SEC use this ruling to hint at a potential appeal?
Reference to the SEC vs. Terraform Labs ruling, where Judge Rakoff highlighted the Programmatic Sales of XRP ruling, adds further intrigue to the situation.
What Was the Binance Ruling?
Judge Amy Berman Jackman’s rejection of SEC allegations regarding Binance’s BNB token transactions as securities under the Howey test set a significant precedent. Her reference to the Programmatic Sales of XRP ruling and alignment with the Ripple Labs approach brought attention to the SEC’s enforcement tactics.
The Binance ruling may have ripple effects on the SEC’s plans to appeal the Programmatic Sales of XRP ruling. The intertwining of these events could shape future regulatory approaches in the industry.
XRP Price Action
As the legal battles unfold, the price action of XRP remains at the forefront of investor attention. Stay tuned for real-time updates on XRP’s performance amidst the regulatory turbulence.
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