SEC Vs. Ripple: Ripple Slams SEC Bid to Shield Experts in High-Profile Crypto Case

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

  • SEC’s lawsuit accusing Ripple of violating securities laws may jeopardize the future of cryptocurrency regulation.
  • SEC vs. Ripple (XRP) case updates did not affect XRP’s value.
  • Ripple (XRP) and the broader crypto market have been negatively impacted by US inflation and market concern about Fed monetary policy.

The Securities and Exchange Commission (SEC) of the United States is a major provider of cryptocurrency solutions for businesses. This is why a lawsuit between Ripple Labs and the SEC shocked the cryptocurrency community two years ago. One of the key lawsuits closely followed in the cryptocurrency sector was the SEC’s legal action against Ripple.

SEC Accuesed Ripple of Violating Securities Law

The SEC’s lawsuit accusing Ripple of violating securities laws may jeopardize the future of cryptocurrency regulation. It is worth noting that the US Securities and Exchange Commission (SEC) claims in the complaint filed against Ripple (XRP) in December 2020 that Ripple (XRP) refused to register its native token, XRP, worth approximately $1.4 billion, as security. As a result, SEC filed a lawsuit against Ripple solely for this reason.

Despite the ongoing Ripple legal case and poor market conditions, the XRP community remains optimistic about XRP pricing. Regarding XRP prices, Ripple fell from $0.7 to $0.2 six months after the SEC filed suit against Ripple and its management. However, as the case progressed, Ripple’s value increased as well.

Ripple vs. SEC: The Latest Development

Because of the most recent revelations, Ripple Labs and the SEC are still suing each other. This occurred after the Securities and Exchange Commission (SEC) filed an omnibus motion last week to exclude (or limit) expert testimony. The Ripple team agreed to the motion and submitted a response counter-move. On the other hand, the SEC vs. Ripple (XRP) case updates had no effect on XRP’s value.

The defense lawyer, James Filan, provided additional updates on the SEC vs. Ripple case earlier this week. Following the filings of expert witnesses in late June, the focus has shifted back to expert testimony and the most recent amici motion. Investors are waiting for the SEC vs. Ripple case to be resolved, so Ripple (XRP) has not responded much to recent updates.

A Legal Dead End – SEC Vs. Ripple

As previously stated, Ripple’s (XRP) lawyers filed a motion on July 10 requesting an expedited discussion of the SEC’s “extreme position.” According to court documents, the Securities and Exchange Commission (SEC) attempts to conceal the names of experts and criticism of reports from the general public. According to the paper, the SEC also allegedly abuses the Protective Order to keep the public from criticizing its experts.

US Inflation and Federal Reserve Monetary Policy – SEC Vs. Ripple

Ripple (XRP) and the broader crypto market have been negatively impacted by US inflation and market concern about Fed monetary policy. Retail sales and inflation data in the United States will almost certainly determine whether the Fed raises interest rates by 75 or 50 basis points.

Even though the overall crypto market is still trailing the NASDAQ 100, investors are waiting for a critical court decision in the SEC v. Ripple case. However, the recent court decisions had little impact on XRP prices.

That’s all for now; stay tuned to economywatch.com for more updates!

About B. Ali PRO INVESTOR

Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.