XRP Community Faces Uncertainty as SEC’s Form-C Deadline Approaches: What Could This Mean for the Future?
The post XRP Community Faces Uncertainty as SEC’s Form-C Deadline Approaches: What Could This Mean for the Future? appeared on BitcoinEthereumNews.com.
The legal landscape for XRP continues to evolve as new developments unfold. Recent updates indicate that the SEC’s deadlines have created significant confusion within the crypto community. Eleanor Terrett of Fox Business has provided crucial insights into the timeline for the SEC’s appeal against Ripple’s recent ruling. This article delves into the latest updates concerning the SEC vs. Ripple case, focusing on the implications of the recent court documents and community reactions. New Timeline Revealed for SEC’s Appeal A recent court document related to the ongoing legal proceedings between the SEC and Ripple has set the record straight regarding the appeal timeline. Journalist Eleanor Terrett highlighted that while the SEC submitted its initial notice of appeal against the pivotal ruling from August 7, the date it was officially docketed differed. Originally perceived as an urgent matter, the true deadline for the SEC to file its Form C is now confirmed as October 18 at 11:59 PM. Details on SEC’s Appeal Submission The document disclosed by the United States Court of Appeals for the Second Circuit elucidates the filing process, clarifying that the SEC’s notice of appeal was officially filed on October 2 but wasn’t recorded on the docket until October 4. This critical distinction adjusted community expectations around the impending due date, prompting XRP enthusiasts to reevaluate the situation. Market Reaction and Community Sentiment Subsequent to the revelation of the correct submission date, XRP’s market behavior reflected the community’s fluctuating sentiment. Initially buoyed by the belief that the SEC might have missed their deadline, the XRP token experienced a notable surge of about 4%. However, the announcement of the new due date swiftly reversed this momentum, leading to an immediate decline in XRP’s value of over 1%, trading now at approximately $0.5576. Understanding the Implications for Ripple The implications of…
Filed under: News - @ October 17, 2024 6:21 am