Ripple vs. SEC Case Heats Up as Second Circuit Court of Appeals Sets Brief Deadline for January 15, 2025
- Barbara StreisandOriginal
- 2024-11-01 15:02:191087browse
In the ongoing legal battle between the SEC and Ripple regarding XRP, significant developments have emerged. The Second Circuit Court of Appeals has set a deadline for the SEC to submit its brief by January 15, 2025.
The ongoing legal battle between the SEC and Ripple over XRP has seen a Second Circuit Court of Appeals mandate, requiring the SEC to submit its brief by January 15, 2025. Attorney Bill Morgan highlighted this development, emphasizing the clear consequences for missing this deadline.
At least the consequences for not meeting this deadline are clear.
The Ripple v. SEC case has garnered significant attention within the cryptocurrency realm. Previously, the SEC filed an appeal against a court decision regarding institutional sales of XRP. This appeal indicates that the SEC is contesting the judge's ruling and seeking to have the issue reconsidered. However, there was a slight confusion which suggested that the SEC had missed the deadline.
Several analysts posit that the SEC is simply burdened by the vast amount of cryptocurrency regulation and litigation they must handle, particularly with so many new cryptocurrencies emerging.
Coinbase CEO Brian Armstrong recently called for the next SEC chair to dismiss all frivolous cases and issue an apology to the American public. This, he argued, would help restore trust in the SEC, with many believing that الكبير changes are on the horizon, especially with the upcoming elections.
Ripple and XRP are poised to continue their presence, with Ripple expanding its customer base and recently acquiring licensing from the Dubai Financial Services Authority (DFSA). Given that over 20% of Ripple's global customers are based in the UAE, this move is expected to bolster the adoption of XRP and the XRP Ledger in international markets.
Meanwhile, Brad Garlinghouse, Ripple's CEO, expressed his belief that an XRP ETF is bound to happen, especially considering the approval of Bitcoin ETFs which has driven interest in cryptocurrency investments. A similar trend for XRP could propel its price upwards.
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