What if the SEC loses its summary judgment in its lawsuit against XRP?
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer What if the SEC loses its summary judgment in its lawsuit against XRP?
- Ripple XRP is facing an important and decisive twist in its case with the SEC.
- The regulatory clarity that Ripple will achieve will be exclusive to Ripple, according to attorney John Deaton.
Amid a growing demand for regulatory clarity around cryptocurrencies, the US Securities and Exchange Commission submitted its request for a summary ruling in its lawsuit against XRP recently.
This event boosted the Ripple community’s hopes of seeing a solution regarding the nature of XRP that will soon become clear.
Resolving Ripple XRP Case Brings Regulatory Clarity:
The outcome of the XRP lawsuit is eventually expected to provide clarity on crypto laws as well.
Read:Learn about the story of the “hamster” who trades in cryptocurrencies and makes returns from them!
Although John Deaton and Amicos Corai, the lawyers for the XRP holders in the case, argue that this is not possible.
According For Deaton, people are making the fatal mistake of thinking that if Ripple wins the summary judgment, it will help other cryptocurrencies in the future.
He also predicts that the SEC will not honor the court’s ruling in the XRP lawsuit.
It is also expected that the authority will continue its war on the crypto market.
He added that “Gary Gensler,” Chairman of the Securities and Exchange Commission, will appeal the judge’s ruling.
He will argue that the judge was wrong, as they expect to win on appeal.
Meanwhile, the ruling will only apply to XRP and not to other cryptocurrencies.
If the court declares XRP as unsafe as Bitcoin, Ripple will become the only currency with clear regulation.
Is Ethereum threatened by the SEC?
Gensler has previously claimed that Ethereum transactions are subject to US jurisdiction, and its historic incorporation into PoS may have triggered the securities laws.
He told Deaton that Jay Clayton had inadvertently given Ripple and XRP the gift of clarity.
Read:Bakkt Bitcoin Futures Platform Obtains Necessary Licenses and Reveals Major Launch Date
So, when the SEC case against Ripple is over, will it go after Ethereum?
Read also:
Ripple price explodes by 18% and Bitcoin is stable at $19K
Russia Allows Partial Bitcoin Mining…Details Here
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time