There was speculation that SEC in the USA would agree to drop Ripple lawsuit At a closed meeting, which took place on July 10. After the meeting, it is not much to suggest that the Commission discussed, with a former SEC lawyer, what happened.
RIPPLE lawsuit still in balance after the SEC meeting
Ripple’s lawsuit is still going on after Sec meeting closed July 10, because the commissioners still have to decide whether to abandon the appeal. Members of the XRP community He speculated that SEC would vote at a meeting or abandon an appeal against a cryptographic company.
However, even before the meeting, Former lawyer Sec Marc Fagel He warned that there would be unlikely at this meeting that a claim for ripple would appear. Based on the program, the Commission discussed cases regarding the institutions and the resolution of the activities of administrative orders and proceedings.
There were also discussions on resolving court claims and other cases regarding exams and enforcement proceedings. IN X PostFagel said after the meeting that SEC has not yet rejected the ripple process. He noticed that there is a standard process that the agency must follow.
The legal expert also noted that this process usually takes several weeks or longer. When the commissioners approve the appeal at Ripple, SEC will submit their dismissal documents, together with Ripple. . The cryptographic company has already announced Last month, this had a appeal between the agency.
Ripple CEO, Brad GarlinghouseHe also stated that SEC was to do the same based on a settlement agreement that they had earlier this year. The transfer of both parties to dismiss their appeal finally ended to almost five years of legal battle in the Ripple lawsuit.
Voting may take place faster due to a settlement agreement
In another post, X Marc Fagel said that SEC usually takes one to two months to vote as recommended by enforcement. He noticed, however, that it could be faster here, because they had already voted for dismissing the appeal in the lawsuit. He explained that this was happening in terms of Settlement contract. Therefore, another vote may be more “drive”.
Meanwhile, Fagel overthrown Brad GarlingHouse’s statement that his company won the lawsuit about Ripple over the SEC. He referred to the fact that Judge Torres said that Ripple illegally raised hundreds of millions by unregistered sales of securities. She also lasted a company with further violations of law and ordered her to pay A fine of $ 125 million.
According to writing, the price of XRP is about USD 2.56, which is over 5% in the last 24 hours, according to data with coinmarketcap.
A distinguished picture from Getty Images, chart from TradingView.com
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