There is still a fight going on between the SEC and Ripple. Many people are impatiently waiting for the end of the story and the 'fight' between the SEC and Ripple to conclude. Based on the words of the SEC officials, it seems that the legal conflict that has been brewing between them might finally come to the end within the next few days.
Currently, a court case entitled SEC v. Ripple is pending in the Southern District of New York, which could determine whether cryptocurrency is a security or a commodity. Already, there have been some speculations about what the outcome will be.
We need to wait a few days to see what the Court decides. There are several potential outcomes that could result from this case. For many reasons, this case is special, and because of these reasons, the court's decision will be complex, and it will take time for the court to reach a conclusion.
SEC and charges: 2020
The whole story started in the year 2020. The SEC filed charges against Ripple and its directors. The reason for the lawsuit is their belief that Brad Garlinghouse and Chris Larsen raised over $1 billion through the unlicensed sale of XRP, classifying it as an undeclared security.
Since Ripple's lawyers have been involved in this case for a considerable amount of time, they remain convinced that Ripple is innocent in this case. At the time of his speech in 2018, Hinman stressed that Ether is not a security.
As a result of this very statement, there have been a lot of rumors, mostly those that claim XRP is not a security. There is one crucial thing the market needs to pay attention to at the moment, and that is to follow the court's decision.
There is a possibility that XRP prices will rise as a result of the court's decision. In the world of blockchain technology, Ripple plays a particularly important role. It is worth pointing out that whereas other projects reject or work in opposition to the classical banking system, Ripple is willing to cooperate with it.
XRapid, xCurrent, and xVia are some of the products built by RippleLabs, the organization behind the Ripple project, for this purpose
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