In the case with the US Securities and Stock Exchange Commission (SEC), Ripple $2.54The possibility of making a penalty payment with XRP came up. Law expert Jeremy Hogan, the court’s 125 million dollars of penalty for XRP can be paid in the genus, he said. This assessment drew attention after the execution decision signed by the US President. The discussions focused on whether the court would allow to pay with XRP.
Can you pay with XRP?
Jeremy Hogan said that payment with XRP is theoretically possible. Although the court set the sentence in dollars, a crypto currency like XRP can be considered. Hogan reminded that a similar situation historically experienced with gold.
Willard v. In the Tayloe case, the court allowed a particular contract to be fulfilled with gold. Legal Specialist, Ripple’s penalty with XRP can be evaluated within the legal framework, he said. However, both the court and the SEC will be required.
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If the SEC accepts to pay with XRP, XRP will be added to the US state’s digital asset portfolio. This can lead to new controversy.
Is an agreement with SEC possible?
Hogan said that the court could allow Ripple to pay with XRP, but that the SEC must accept this situation. According to the legal expert, the SEC has not given a signal that it has accepted such an agreement.
This discussion is also closely related to the US government’s approach to crypto currencies. With the increase in the price of XRP, the possibility of the US will earn higher income is coming to my sun. If the government accepts XRP, new balances may occur in the market. However, this option will have to be evaluated in detail in legal and economic aspects.
The process progressing in the case will be shaped depending on what SEC and Ripple will compromise. Ripple’s possibility of paying with XRP will become clear depending on the court decision and the views of the parties.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
