XRP Vs SEC News: SEC’s New Loss Aids Ripple In Institutional Sales Dispute
Release: 2023/11/04 21:17 Reading: 646
In a dramatic turn of events, Ripple, the popular cryptocurrency platform, and its dedicated community are celebrating a significant victory following a recent legal blow to the U.S. Securities and Exchange Commission (SEC). The Second Circuit’s ruling in SEC vs. Govil has created a wave of optimism within the Ripple community, shedding light on the SEC’s inability to demand substantial disgorgement without concrete evidence of investor financial losses.
Meanwhile, this pivotal moment, summarized as “no harm, no foul,” has profound implications for Ripple’s ongoing legal tussle with the SEC.
Ripple’s Liability In The Balance
Legal analyst Jeremy Hogan's analysis highlights the crucial element that determines Ripple's liability: whether XRP investors have truly experienced financial losses.
In simpler terms, if an investor buys XRP at a price lower than its current market value, Ripple might avoid responsibility for any financial losses. This understanding puts the SEC in a difficult situation, which could possibly result in a more advantageous agreement for Ripple.
The discussion surrounding this legal saga has largely centered on the substantial penalty that the SEC is seeking from Ripple. However, commentator Yassin Mobarak has raised concerns about the SEC's ability to enforce the rumored $770 million penalty for institutional sales, especially if investors have not been significantly impacted.
In addition, lawyer John Deaton has also weighed in, pointing to a past case where the SEC’s initial request of $23 million was eventually reduced to a mere $130,000. Deaton anticipates a similar outcome in Ripple’s case, implying that the company may successfully negotiate the fine down.
Also Read: Elon Musk’s X Selling Disused Twitter Handles For $50,000
XRP Community Reacts
Stuart Alderoty, Ripple's Chief Legal Officer, emphasized the importance of the Second Circuit's ruling in SEC v. Govil. This ruling raises doubts about the SEC's power to require significant disgorgement without presenting substantial evidence of financial harm inflicted on investors. Referred to as the "no harm, no foul" principle, this concept could greatly influence Ripple's legal challenges with the SEC.
In the meantime, Bill Morgan, a lawyer supporting Pro-XRP, expressed his views on the X platform regarding the SEC vs. Govil case. According to Morgan, the case focuses on allegations of fraud, which is quite apparent. He believes that any fair solution sought by the SEC should be discretionary and aimed at compensating the victims, rather than benefiting the SEC or the government unexpectedly.
Currently, the important inquiry revolves around the available evidence, from experts or alternative sources, that can provide substantial proof of actual financial damage suffered by institutional investors in this particular instance.
Ripple's community, fueled by their recent legal victory, eagerly awaits a more positive resolution in their ongoing battle against the SEC.
Also Read: BTC, Pepe Coin, & RUNE Fuel Market Gains
The post XRP Vs SEC News: SEC’s New Loss Aids Ripple In Institutional Sales Dispute appeared first on CoinGape.
Recent news
More>- Crazy Biden (CRAZBIDE) Solana Memecoin to Explode Over 19,000% Before Exchange Listing, While Shiba Inu and Dogecoin Lag 11-22
- Crazy Biden (CRAZBIDE) Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 11-22
- 5 Memecoins Poised for Gains Under Trump’s Crypto-Friendly Agenda 11-22
- Must-Buy Altcoins for Massive Gains Ahead of Bitcoin’s $100K Surge! 11-22
- 3 altcoins under $1 set to explode like the Dogecoin and XRP price 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- Donald Nukes Ukraine Solana Memecoin Will Skyrocket 15,000% Ahead of Exchange Listing, As Shiba Inu and Dogecoin Underperform 11-22
- Shiba Inu Coin Price Set To Surge, As Pepe And New Meme Coin Trend Globally 11-22
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com