#2024WithBinance
#Ripple💰 and #SEC ongoing battle.
The ongoing legal battle between Ripple Labs (associated with XRP) and the U.S. Securities and Exchange Commission (SEC) is one of the most influential cases in the cryptocurrency sector. The SEC filed a lawsuit in December 2020, claiming that Ripple raised $1.3 billion through an unregistered securities offering of XRP. Ripple has consistently argued that XRP is a digital currency, not a security.
Tomorrow December 4, 2024, is a significant date for the case because both parties must submit pretrial filings and documents as required by the court. The actual trial is scheduled to begin on April 23, 2024. This trial is critical as it could set a precedent for how cryptocurrencies are regulated in the United States.
Ripple has seen partial legal victories, such as a judge ruling in July 2023 that certain XRP sales were not securities transactions. These developments have affected XRP's price and market sentiment. The case's outcome is being closely monitored because it could either lead to more stringent crypto regulations or bolster the industry's growth.
