As a seasoned crypto investor with a decade of experience navigating the ever-evolving digital asset landscape, I find myself no stranger to the twists and turns that characterize this dynamic industry. The latest development in the Ripple lawsuit – the US SEC’s decision to appeal Judge Torres’ ruling – is yet another reminder that the crypto market can be as unpredictable as a rollercoaster ride at CryptoLandia.
The U.S. Securities and Exchange Commission (SEC) has announced its intention to appeal some parts of Judge Analisa Torres’ decision in the Ripple lawsuit, which was made on July 13, 2023. This action brings an end to the uncertainty about the SEC’s future steps in the crypto market.
US SEC Appeals, What Next For Ripple Labs
Five days prior to the October 7th deadline, the US Securities and Exchange Commission (SEC) submitted an appeal against Judge Torres’ decision, challenging his ruling from earlier which imposed a fine of $125 million on Ripple for selling XRP to institutional investors in August. Some had assumed this would be the end of the case.
This Appeal will extend the duration of the case, as the U.S. Court of Appeals for the Second Circuit is set to review and evaluate the validity of the initial decision made.
This is a breaking news, please check back for updates!!!
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2024-10-03 00:19