The post Ripple v. SEC Lawsuit Recap September 18th appeared on BitcoinEthereumNews.com.

TL;DR Ripple’s legal battle with the SEC nears a potential conclusion after Judge Torres ordered the company to pay a reduced $125 million fine. The firm recently requested a stay on the payment, sparking speculation about a possible SEC appeal before the October 6 deadline. Experts suggest this move could buy time for further legal maneuvers. The Calm Before the Storm? The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing for almost four years and remains one of the hottest topics in the cryptocurrency space. Recall that the regulator sued the company in December 2020, accusing it of raising more than $1.3 billion in an unregistered securities offering by selling its native token, XRP. The end of the battle seems inevitable, considering the major development witnessed last month. Back then, Judge Torres ruled that the sales of XRP on secondary markets to retail investors did not constitute securities transactions. However, she ordered Ripple to pay $125 million for violating certain securities laws.  While the sum’s size may sound substantial, it actually represents a 94% discount on what the SEC initially asked for. As such, numerous industry participants (including Ripple’s CEO Brad Garlinghouse) viewed the court’s decision as a major victory. The exec said the firm will respect the ruling, while CLO Stuart Alderoty assured the penalty will be paid in cash off the company’s balance sheet.  The SEC, on the other hand, has remained silent on its next move. Considering its initial request, though, market observers believe the agency is more likely to appeal Judge Torres’ decision. The deadline for such a development is October 6. The Latest Filing Multiple analysts and members of the XRP community speculated that Ripple is about to pay the multi-million fine during the first week of September.  Contrary…

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Filed under: News - @ September 18, 2024 10:14 pm