The presiding judge, Analisa Torres, tossed SEC's appeal and set a date for trial.
XRP surged 5% after a judge dismissed the SEC’s appeal in its case against Ripple, ruling in Ripple’s favor in July.The legal battle continues with a trial set for April 2024, and Ripple has spent over $200 million in legal expenses.In July, the SEC filed an interlocutory appeal against Judge Torres’ decision, stating that there was substantial ground for differences of opinion on the current matter.
In an Oct. 3 brief ruling, Judge Torres denied the SEC’s motion, claiming the agency had failed to meet its burden of proof — in other words, the SEC couldn’t prove there were controlling questions of law with respect to substantial grounds for differences of opinions on the subject. Crypto Twitter rapidly shared the news, celebrating another win for Ripple. Meanwhile, XRP hopped on a 5% rally, which is trading at $0.53 at the time of writing, according to data from CoinGecko.However, don’t count your eggs before they hatch; the fact that Ripple has managed to stay afloat doesn’t mean an outright loss for the SEC. Most likely, the commissioner will try to appeal the case again.
The legal battle between Ripple and the SEC case has been the largest so far in crypto history, starting in late 2020. Most of the time, crypto projects that confronted the SEC ended in settlements, but that doesn’t seem to be in Ripple’s plans as the company’s executives, Brad Garlinghouse and Chris Larsen, have said theySo far, Ripple has spent more than $200M in legal expenses, currently represented by law firm Cleary Gottlieb Steen & Hamilton LLP.We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges One Weekly Email Can Change Your Crypto Life.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Judge Torres rejects the SEC's motion for an interlocutory appeal in Ripple caseDistrict Judge Analisa Torres rejected the SEC’s move to certify for interlocutory appeal and set trial dates for next year.
Consulte Mais informação »
Ripple victory over SEC reaffirmed as Judge Torres denies regulator’s motion to appealRipple Labs victory over the US Securities and Exchange Commission (SEC) around mid-July has been reaffirmed after a federal judge rejected the commis
Consulte Mais informação »
SEC asks judge to reject Coinbase’s motion to dismiss lawsuitThe SEC told a federal judge presiding over its suit against Coinbase that the exchange has always known some of the cryptocurrencies it sells could be securities.
Consulte Mais informação »
US SEC cannot appeal Ripple Labs decision, judge rules By ReutersUS SEC cannot appeal Ripple Labs decision, judge rules
Consulte Mais informação »
Judge rejects SEC’s motion to file an appeal against Ripple rulingDistrict court judge Analisa Torres has denied the United States Securities and Exchange Commission's (SEC) motion to file an appeal against the Ripple ruling from July.
Consulte Mais informação »
XRP Holders' Lawyer Reveals How Firms Should Deal With SECXRP holders' lawyer to crypto firms: Do not 'cooperate with or talk to anyone at the SEC'
Consulte Mais informação »