XRP News Today: SEC Ripple Lawsuit Update and ETF Speculation Impact

XRP News Today: SEC Ripple Lawsuit Update and ETF Speculation Impact

The SEC will argue for a punitive penalty for Ripple selling unregistered XRP to US institutional investors. During remedies-related discovery, Ripple provided the SEC with post-complaint contracts governing XRP sales to institutional investors. Ripple also provided 2022/2023 financial statements.

Judge Analisa Torres could impose a punitive penalty if Ripple continued breaching Section 5 of the 1933 US Securities Act after the complaint.

Conversely, Ripple will use US case law to limit the penalty for breaking securities laws. However, demonstrating there were no post-complain breeches could be pivotal.

Beyond the Ripple case, the outcome of an investigation into conflicts of interest within the SEC will impact XRP.

Office of Inspector General Investigation into the SEC Remains Ongoing

In February, Empower Oversight announced an investigation into crypto conflicts of interest was nearing its end. The outcome of the OIG investigation could decide the fate of the SEC v Ripple case.

Empower Oversight hit the crypto news wires in 2021, filing a lawsuit against the SEC. The government watchdog alleged SEC officials were biased against Ripple Labs. In 2022, Empower Oversight referred the matter of conflicts of interest to the Office of Inspector General (OIG).


https://www.fxempire.com/forecasts/article/xrp-news-today-sec-ripple-lawsuit-update-and-etf-speculation-impact-1416263

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