US Securities and Exchange Commission (SEC), Ripple $2.3 He will submit his opening report on the objections in his case by January 15. The SEC did not disagree with the ruling that XRP is not a security per se, but it did object to nearly every argument, including Ripple’s sales of XRP on crypto exchanges and personal sales by executives.
SEC Chairman Gary Gensler and the Objection Report
With SEC Chairman Gary Gensler leaving office on January 20 and lawyers predicting a potential settlement, some XRP investors are wondering whether the SEC will file the lead petition in the Ripple case.
“The SEC complies with the court order and will proceed with the process” – Attorney Jeremy Hogan.
Experts stated that the SEC will oppose Judge Analisa Torres’ decision regarding XRP programmatic sales. The SEC maintained that Ripple traded over $700 million in illegal securities.
“The court agreed with the SEC that Ripple violated the law.” -Former SEC attorney Marc Fagel.
The SEC will present additional arguments regarding Ripple’s sales of XRP on crypto exchanges and personal sales of executives. It will discuss whether these sales were registered securities transactions.
Ripple CLO Stuart Alderoty criticized the SEC for presenting “failed arguments” and wasting taxpayers’ money.
“2. “It was a good case in the District because there was a conflict between the SEC and the judge.” -James Farrell.
Developments After the Objection
The dinner that Ripple executives had with Donald Trump increased the company’s growth hopes in the United States. CEO Brad Garlinghouse noted that 75% of job openings are US-based and that they have signed more US job deals in the last six weeks.
“A strong start!” -Brad Garlinghouse.
While Ripple’s victory in the Second Circuit Court could set a precedent for other crypto cases, the parties may choose to settle or reject it under new SEC Chairman Paul Atkins.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
