The post SEC Faces Ripple XRP Deadline Amidst Legal Ripple Effects and Crypto Industry Tensions appeared on BitcoinEthereumNews.com.

According to COINOTAG on October 2nd and reported by Fox Business, the U.S. Securities and Exchange Commission (SEC) faces an October 7 deadline to determine if it will contest Judge Analisa Torres’s July 2023 ruling. Judge Torres concluded that only specific instances of Ripple’s XRP sales breached securities regulations, a decision sparking significant debate among legal scholars and federal judges. This verdict represents a notable triumph for the burgeoning crypto industry as it seeks to validate its compliance with U.S. securities laws. Crypto platforms including Coinbase, Binance, and Kraken, embroiled in litigation with the SEC for allegedly selling unregistered securities, view this ruling as pivotal for their defense strategies. Former SEC enforcement attorney Arc Powers conveyed to Fox Business the likelihood of an appeal, especially given the stance of SEC Chairman Gary Gensler who remains committed to exerting oversight over the expansive $2 trillion crypto market. Fox Business also highlighted that disclosure is a fundamental principle of U.S. securities legislation, typically necessitating comprehensive filings by companies issuing stock to inform potential investors. Some legal authorities argue that Judge Torres’s decision challenges this established disclosure mandate. Source: https://en.coinotag.com/breakingnews/sec-faces-ripple-xrp-deadline-amidst-legal-ripple-effects-and-crypto-industry-tensions/

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Filed under: News - @ October 1, 2024 7:19 pm