NewsletterXRP Lawsuit: Ex SEC Lawyer Predicts ‘One-Off’ Ripple Win
Crypto Market News: The U.S. Securities and Exchange Commission’s (SEC) continued attack against crypto market businesses in the last few months came as yet another stumbling block at the back of a terrible year in 2022. However, the enforcement actions barely had any impact on asset prices, as the Bitcoin price grew by as much as 60% since the beginning of 2023. Yet, many market participants see the Ripple Vs SEC lawsuit as possibly the single most legal solution to the crypto regulation conundrum in the United States.
Also Read: U.S. Advisory Warns Against Storing Funds On PayPal; Is Bitcoin The Safer Bet?
Meanwhile, the XRP token holder community is awaiting the Summary Judgement in the SEC lawsuit from Judge Analisa Torres. Besides, the deadline to make public the Hinman documents is not too far with the deadline being June 13, 2023.
Ripple Win In XRP Lawsuit Will Be One Off
Nick Morgan, the former SEC senior trial counsel, applauded the support given by individual XRP token holders in the SEC lawsuit. However, he predicted that the SEC’s history suggests the agency would defend the other crypto lawsuits even if Ripple wins the XRP lawsuit. Morgan said the SEC could argue that Ripple’s win was a one-off ruling specific to that case and has nothing to do with the rest of the crypto market. This could directly impact the perceived notion that the XRP lawsuit victory could act as the perfect legal precedent for other crypto businesses to defend legally.
“In the Ripple case, I think it’s been very effective that holders of the XRP Token have tried to have their voice heard in that case.”
It may also be recalled that Ripple is going all guns blazing in the lawsuit as it announced that around $200 million have been spent so far in legal fees.
Also Read: XRP Ledger A Game Changer: HSBC On Distributed Ledger Tech
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Arthur Hayes Issues Advice To ZEC Holders Amid Push For Crypto Privacy
- Market Structure Bill: Senate Ag Committee Targets Early December Markup
- Breaking: U.S. SEC Unveils ‘Token Taxonomy’ To Help Classify Crypto Assets
- Winklevoss Twins Unveil Zcash Treasury Company Cypherpunk, Eyes 5% ZEC Supply
- Breaking: U.S. House To Vote On Bill To End Government Shutdown Today, Bitcoin Rises
- Ethereum Price Holds Above $3,400: Can Bulls Defend This Key Support?
- After a 108,000% Burn Spike, Will Shiba Inu Price Hit $0.000016 Next?
- Bitcoin Price Eyes Fresh Rally as U.S Government Reopening Sparks Risk-On Mood
- Pi Network Price Eyes Rally to $0.5 as Top Whale Holdings Nears 375M Tokens
- When Will Solana Price Reach $300: Prediction and Analysis
- Chainlink Price Targets $20 After Bitwise ETF Gets DTCC Approval
