If there is one lawsuit that will forever mark the spirits, it is the one opposing Ripple to the SEC. Investors are eager to hear the outcome. They are indeed hoping that the Ripple VS SEC affair will end this week with a win for the crypto company.
The Ripple VS SEC affair in a nutshell
Rich in twists and turns, the Ripple VS SEC case is undeniably one of the longest crypto trials. It is also one of the most publicized.
It all starts in December 2020, when the SEC accuses Ripple of illegally selling $1.3 billion worth of its XRP token as an unregistered security. A charge refuted by Ripple. According to her, XRP does not represent an investment contract in any way, in accordance with the famous “Howey test”.
On December 21, 2020, the SEC initiates legal proceedings against Ripple Labs. The American regulator is also attacking the CEO of the crypto company, Carl Garlinghouse, as well as its co-founder Chris Larsen. Since then, the debates have been going well on the outcome of the case. Especially since many elements have been added to it. Reference is made in particular to the Hinman documents that the SEC wants to keep secret at all costs.
A lawsuit in favor of Ripple?
For now, everything seems to indicate a verdict in favor of Ripple. Ripple’s hope indeed begins to dawn when Judge Sarah Netburn considers the usefulness of XRP, contrary to SEC claims in March 2021.hope to win grows even bigger when District Judge Analisa Torres rules in favor of Ripple. The latter had indeed banned expert testimony in the Ripple VS SEC case.
Today, nothing is decided yet! Everyone is waiting impatiently for the final decision. But investors can already rejoice at the rise in the price of XRP by 2.54%.
Whatever the outcome of the Ripple VS SEC case, the final decision will surely impact the crypto market in the United States. The thing is, this lawsuit is actually pitting the entire crypto sphere against the SEC.
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