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- The Ripple and SEC started back in December 2020.
- The Ripple vs. The SEC lawsuit has entered its last stages.
The lawsuit of Ripple vs. Sec has recently gathered huge limelight in the last few weeks because it is believed that the case will conclude soon.
Nonetheless, the case, which started in December 2020, is yet to have a goal date as both the SEC and Ripple have clutched their contentions – the SEC saying XRP is security while Ripple keeps up that it isn’t.
The Ripple vs. The SEC lawsuit has entered its last stages, whereas the legal battle between the payment protocol and the financial regulator is expected to bring some results very soon.
Meanwhile, many experts and analysts closely watching the case are optimistic about Ripple’s win over the SEC. Given the potential of this case by now, Ripple’s win would make a huge impact on crypto regulations.
Although the SEC has no new evidence against the company, it is assumed they will not attempt to file new motions to delay the case.
Most recently, Judge Torres rejected the SEC’s objections to turning over information on William Hinman, where he expressed his beliefs on Ethereum.
Information from Jeremy Hogan, a partner in Hogan and Hogan’s legal briefs and the counsellor who has followed the lawsuit closely, believes that the delays caused by Hinman’s documents certainly cannot affect a decision from time to time; it can be narrated.
In a series of threads, Lawyer Hogan clears up a misunderstanding looming near the SEC’s due date for filing a review. The SEC, he believes, has another 60 days from the date of the ruling, which is September 30, if it wants to file a review. However, he believes that the SEC may not appeal.
However, he also states that Hinman’s documents are not relevant to the core of the lawsuit, Section 5 violation, which is whether XRP is a security or not. It may be only relevant to the Fair Notice Defense, on which the summary judgement has been requested by the SEC & not Ripple.
Furthermore, the attorney responded positively to a question about whether a settlement is likely before November 15.
The case of Ripple and SEC is believed to conclude in the upcoming few months.
Recently Ripple partnered with LemonWay in France and Xbaht in Sweden to make easier payments worldwide.
In the recent Press Release, Ripple announced its first ODL customer in France as it joins forces with Lemonway, using RippleNet’s ODL, which leverages XRP for crypto-enabled payments, to enhance its treasury payments processes.
This recent partnership with Lemonway came when France showed forward-thinking in embracing the potential of crypto technology.
In the last week, XRP shows a price rally and hit the previous three months’ high of $0.5490, but the bulls do not survive on top, and the price retraces back. Now the price consolidates to wait for the buyer’s action.
Moreover, XRP sustaining over the 200 EMA is a sign of positivity in the trend. Furthermore, XRP shows some correction in prices in the previous sessions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
