The SEC vs. Ripple case has been a hot topic of speculation within the cryptocurrency community, with recent developments suggesting a possible settlement on the horizon. According to Pro-XRP investor JackTheRipple, the SEC has scheduled a closed meeting at their Washington DC Headquarters on July 18 to discuss settlements, resolutions to litigation claims, and enforcement proceedings.
This news comes at a crucial time as Judge Torres could deliver the Ripple case verdict at any moment, causing potential anxiety for the SEC. In March 2024, the SEC filed its remedies-related opening brief, advocating for a $2 billion penalty and an injunction prohibiting XRP sales to institutional investors. In response, Ripple presented its case for a $10 million penalty, arguing that they did not breach US securities laws post-complaint.
A key point in Ripple’s defense is their utilization of On-Demand Liquidity (ODL) contracts for XRP sales post-complaint. These contracts prevent profits or losses, making it difficult for the SEC to argue that institutional investors purchased XRP with the expectation of profit. This is significant as sales to accredited investors are exempt under US securities laws, further strengthening Ripple’s position in the case.
At Extreme Investor Network, we pride ourselves on delivering insightful analysis and expert commentary on the latest trends in the stock market, trading, and cryptocurrency space. Stay tuned for more unique and valuable content that sets us apart from the rest.