BTC Halving Happens in April, But So Does Xrp
crucial court hearing:
yes, BTC dropped to 62,000+ today... but Xrp is
trending, here's why and what to note:
The SEC's lawsuit against Ripple Labs, often referred to as the XRP lawsuit, is still ongoing but has reached a key milestone. Here's a breakdown:
The problem: The SEC alleges that Ripple sold XRP as an unregistered security, raising more than $1.3 billion. Ripple claims that XRP is a utility, not a security.
July 2023 decision: A partial victory for Ripple. The court found that sales of XRP on exchanges were likely not securities, but sales to institutional investors could be.
Current stage:
Both parties submit briefs on “remedies”, i.e. arguments in favor of sanctions against Ripple (if any).
The deadline for these submissions is April 29, 2024.
Judge Torres will then decide on the appropriate sanctions, probably after May 6.
This case has major implications for the crypto industry as it clarifies how regulators view cryptocurrencies.
If you find these updates helpful, follow for more
