Ripple vs SEC: A Trend Setter for the Entire Crypto Community
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Story Highlights
SEC reduced Ripple's fine from $2 billion to $102 million; Ripple rejected it.
Ripple's fight against the SEC has cost more than $200 million, aiming to protect crypto.
Potential political shifts might reduce SEC Chair Gensler's influence, benefiting the crypto industry.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is approaching a decision point. Initially seeking $2 billion in fines, the SEC has reduced its demand to $102 million. However, Ripple has not accepted this lower offer, indicating ongoing disagreements.
Legal experts are unsure if the case will end with a settlement or a court decision. As political changes loom and other big crypto firms clash with the SEC, the outcome is highly anticipated.
SEC’s Offer and Ripple’s Rejection
Fifteen days ago, the SEC proposed a settlement of $102 million to Ripple, a drastic reduction from the initial $2 billion demand. Despite expectations for Ripple to accept the offer quickly, the company has decided to continue its fight.
This decision stems from a long history of what Ripple and the XRP community see as unfair treatment and harassment by the SEC.
The SEC’s original mission was to protect retail investors, but its actions against XRP have led to widespread criticism. Ripple’s legal battle, which has cost over $200 million, is seen as a fight for the entire crypto industry.
The hope is that Judge Torres will rule in Ripple’s favor, setting a precedent that government agencies cannot act with impunity.
Judge Torres’s Upcoming Verdict
Judge Torres is expected to make a crucial decision soon, which could be influenced by the SEC’s recent losses in other crypto-related cases.
A favorable outcome for Ripple would not only clear the company’s name but also send a strong message to the SEC and other regulatory bodies.
