Bitcoin Halving!!
We all know Bitcoin halving is in April, but one thing most people here don't know is that so is the XRP court case's most crucial hearing.
Bitcoin dipped to $62,000 today, but XRP is still currently trending and the reason behind that is:
The SEC's lawsuit against Ripple Labs, the XRP court case, is still ongoing but has reached a key moment.
The Issue: The SEC alleges Ripple sold XRP as an unregistered security, raising over $1.3 billion. Ripple argues XRP is a utility and not a security.
The ruling in July 2023: A partial victory for Ripple. The court found XRP sales on exchanges likely weren't securities, but sales to institutional investors might be.
The Current Situation: Both parties are submitting briefs on "remedies," which means arguments for penalties against Ripple (if any are to be paid). The deadline for these briefs is April 29, 2024. The judge on the case, Judge Torres, will then decide on the appropriate penalties, likely after May 6th.
This case has major implications for the crypto industry as it clarifies how regulators view cryptocurrencies.
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