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Highlights
- US SEC back-to-back closed-door meeting sparked speculation on potential implications the crypto market.
- The meeting is rumored to focus on either resolving injunction claims or settlement with Ripple
- The speculation arises due to recent decision in Binance lawsuit.
- XRP price rallied over 18% in a week ahead key decision.
According to reports, the United States Securities and Exchange Commission (SEC) to conduct a crucial meeting to discuss key issues. These issues include institution and settlement of injunctive actions and administrative proceedings, resolving litigation claims, and enforcement proceedings. The back-to-back meeting has sparked speculation on potential implications for Ripple, Binance, and the crypto market.
SEC Close Door Meetings Sparks Buzz In the Crypto Community
The US SEC recently convened a closed-door meeting on Thursday, July 11 as part of normal routine to discuss key matters essential for the commission. However, another meeting scheduled next week on July 18 has sparked a buzz in the crypto community, especially after the recent decision in Binance lawsuit and a major pending ruling in Ripple vs SEC lawsuit.
The back-to-back meetings prompted speculation about the potential impact on Binance, Ripple, and the crypto market. The meeting is rumored to focus on either resolving injunction claims or settlement with Ripple. Market participants are closely monitoring developments and await any outcome from the meeting.
As per the SEC meeting, Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the meeting on July 18. The matter of the SEC closed-door meeting is on topics:
- Institution and settlement of injunctive actions
- Institution and settlement of administrative proceedings
- Resolution of litigation claims
- Other matters relating to examinations and enforcement proceedings.
Notably, the SEC officials mostly discuss topics on these matters unless a change in the meeting agenda for publication in the Federal Register.
Also Read: FTX Reaches Settlement With CFTC, $4B Claim Subordinated
Recent Developments Related to Binance and Ripple
Binance achieved a major win, despite most of the arguments proceeding for further hearings. The SEC failed to prove that BNB’s secondary sales were securities, winning legal support for Coinbase and Ripple. Coinbase and Ripple Labs are using the ruling to challenge the US SEC’s regulatory stance on crypto.
As the crypto market awaits Judge Torres’ final judgment over penalties and injunction, Ripple reflects on the anniversary of the landmark summary judgment.
Meanwhile, lawyers and Ripple executives don’t believe any settlement to happen with the SEC, as reported by CoinGape. XRP price has skyrocketed 18% this week as lawyers including Fred Rispoli anticipate the verdict to come this month.
Also Read: XRP Skyrockets Over 17%, Here’s The Next Level
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