1. BITBILIHome
  2. Article

Ripple v. SEC: XRP community divided over appeal prospects

• 110 views

TL;DR Breakdown

  • The SEC has requested court approval for an appeal in the Ripple case, potentially pausing proceedings.
  • The SEC challenges the court’s perspective that XRP retail sales aren’t investment contracts.
  • Marc Fagel, ex-SEC official, believes the appeal might face tough approval criteria.

Description

The Securities and Exchange Commission (SEC) recently made a bold move. They’ve asked the court to approve an appeal in the Ripple (XRP) case. This could halt proceedings until a final verdict emerges. The SEC’s argument hinges on a pivotal point. They believe the court’s view on XRP retail sales is far-reaching. This view suggests … Read more

The Securities and Exchange Commission (SEC) recently made a bold move. They’ve asked the court to approve an appeal in the Ripple (XRP) case. This could halt proceedings until a final verdict emerges. The SEC’s argument hinges on a pivotal point. They believe the court’s view on XRP retail sales is far-reaching. This view suggests these sales aren’t investment contracts.

Previously, Gary Gensler, the SEC head, held a firm stance. He believed the digital assets realm needed no new rules. He felt the current guidelines were apt. Yet, this appeal challenges that belief.

The XRP community is buzzing with opinions. One supporter reached out on social media. They subtly probed Marc Fagel, a former SEC official. They wanted insights on the appeal’s potential approval. This supporter stressed the case’s industry impact. They mentioned unique legal angles and differing verdicts as crucial elements.

Fagel’s response was measured. He recognized the case’s significance and the unique legal points. Yet, he also shed light on the tough criteria for such appeals. Fagel feels the court might only approve if it sees the issues as pressing.

Another XRP fan added their voice to the debate. They hinted at the legal issues needing to be more familiar. They felt the SEC might have a lower hand than they claim. Fagel responded with a reminder. He pointed to the SEC’s past wins in crypto cases. He emphasized that more than one mixed ruling is needed to spell a trend. To see it as a sign of the SEC’s decline would be an exaggeration.

Meanwhile, Ripple’s trading sentiment seems bearish. The XRP token’s value dipped by 0.59%. It’s now trading at $0.5. The day saw a high of $0.5045 and a low of $0.4981.

The Ripple case continues to captivate many. The SEC’s appeal request adds another layer to this intricate saga. The outcome remains uncertain, but the stakes are undeniably high.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Ripple v. SEC: XRP community divided over appeal prospects

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月10日 22:36
Next 2023年9月11日 02:25

Related articles

  • Another Chinese  $100 Million crypto scam revealed

    TL;DR Breakdown A sixth Chinese national has been apprehended in Sydney, Australia, as part of an ongoing investigation into a sprawling cryptocurrency scam with ties to the United States.  It is claimed that the suspect employed a combination of traditional bank accounts and cryptocurrency wallets to facilitate the movement of illicit funds, aiming to launder the proceeds of the cryptocurrency scam. Description A sixth Chinese national has been apprehended in Sydney, Australia, as part of an ongoing investigation into a sprawling cryptocurrency scam with ties to the United States. The alleged scam managed to siphon off over $100 million from unsuspecting American victims through a convoluted scheme involving manipulation of cryptocurrency and forex exchanges. The individual in … Read more A sixth Chinese national has been apprehended in Sydney, Australia, as part of an ongoing investigation into a sprawling cryptocurrency scam with ties to the United States. The alleged scam managed to siphon off over $100 million from unsuspecting American victims through a convoluted scheme involving manipulation of cryptocurrency and forex exchanges. The individual in question, a 34-year-old Chinese citizen…

    Article 2023年8月18日

  • Where to buy Worldcoin?

    TL;DR Breakdown Worldcoin, under the leadership of OpenAI’s chief Sam Altman, was released on Monday after collecting more than 2 million users during a beta period. At the core of the Worldcoin project is an eye-scanning “orb” that must be used in person and provides users with a unique digital identity to confirm they are real humans and not bots. WLD token is available on global crypto exchanges such as Binance, Huobi and Bybit. WLD has a circulating supply of 108,569,365 WLD coins and a max. supply of 10,000,000,000 WLD coins. Description Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by scanning their eyes, potentially resolving one of the most pressing issues posed by recent advances in artificial intelligence, which have made it more difficult to … Read more Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by…

    Article 2023年7月26日

  • Australia’s ANZ boosts cross-chain power with Chainlink

    TL;DR Breakdown Australia’s ANZ bank collaborates with Chainlink, advancing its capabilities in the blockchain sphere. ANZ successfully completes a transaction using its A$DC stablecoin and Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The move builds on knowledge from a prior initiative aiming to test blockchain interoperability with global banking giants. Description ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional … Read more ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional to Tech-forward ANZ has recently made waves by conducting a transaction involving its A$DC stablecoin, coupled with Chainlink‘s…

    Article 2023年9月15日

  • Microsoft and Axelar join forces to revolutionize blockchain integration

    TL;DR Breakdown The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. Through the Azure marketplace, developers will be able to leverage Axelar’s tools, such as the AxelarJS software development kit (SDK) and its general message-passing capabilities.  Microsoft’s Azure marketplace currently hosts over 25,000 applications and services for developers and businesses. Description Axelar, a cross-chain protocol, and tech giant Microsoft recently announced a partnership aimed at bridging public and private blockchains. The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. By joining the Azure marketplace, Axelar gains access to a vast network … Read more Axelar, a cross-chain protocol, and tech giant Microsoft recently announced a partnership aimed at bridging public and private blockchains. The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. By joining the Azure marketplace, Axelar gains access to a vast network of…

    Article 2023年7月12日

  • Binance.US implements staff reductions as legal battle with SEC looms

    TL;DR Breakdown Binance.US, the U.S. affiliate of cryptocurrency exchange Binance, has laid off employees as it prepares for a legal battle with the SEC. The layoffs come in response to the SEC’s allegations of offering unregistered securities, forcing Binance.US to become a crypto-only exchange. Around 50 positions have been cut, and the exchange aims to reduce costs as it anticipates a lengthy and costly litigation process. Binance.US, the United States affiliate of cryptocurrency exchange Binance, has reportedly laid off a portion of its workforce in response to the legal action taken by the U.S. Securities and Exchange Commission (SEC) against both entities. The SEC lawsuits alleging the offering of unregistered securities have compelled Binance.US to transition into a “crypto-only exchange,” leading to the decision to downsize its teams and reduce expenditures. The management of Binance.US described the SEC as a “politically motivated regulator” that necessitated the transition to a crypto-exclusive focus. While the exchange had aimed to avoid this scenario, it found itself compelled to take this step due to the circumstances arising from the lawsuits. Binance.US expressed regret over…

    Article 2023年6月18日
TOP