The lawyer provided insights into: Imminent court ruling From the US Securities and Exchange Commission (SEC) regarding its lawsuit against Ripple. Legal battle The end of the Ripple case finally appears to be near, as the lawyer explained how potential rulings could impact Ripple’s reputation and digital asset operations in the United States.
Imminent SEC rulings on Ripple
Fred Rispoli, founder of the HODL Act, was recently featured in a YouTube video This topic was hosted on the Thinking Crypto podcast, by Tony Edward. When asked if he Ruling against Ripple It could involve penalties for institutional sales of XRP, and Rispoli confirmed that Ripple will indeed be mandated to pay a set amount of fines.
He revealed that the punishment would not be as harsh An initial $2 billion fine imposed by the Securities and Exchange Commission To sell XRP to institutional investors. However, he also acknowledged that the $2 billion fine would be difficult and damaging for the cryptocurrency company but not fatal to the company.
Rispoli predicted that SEC Ruling It is likely to be less than $25 million, accompanied by a penalty rather than a fine. Vomiting. He added that the most important aspect of the upcoming ruling will be the Ripple order and the potential restrictions imposed on the company. According to the lawyer, these terms of the injunction will be of great importance to him Ripple’s future operations And financial interests.
The HODL founder also revealed that the SEC wants to issue a “comprehensive injunction” against Ripple. He confirmed that the regulator wrote in its proposed order last year to restrict its ability to conduct any activities that could remotely be judged to be unregistered securities transactions.
However, Rispoli revealed that the judge would likely avoid any new issues raised by the SEC that are not subject to litigation. He stressed that when a government agency like the SEC is involved in a lawsuit, it typically has 60 days to hear the case. Submit a Notice of Appeal Instead of the standard 30 days. Once Ripple’s ruling is confirmed, the SEC will have exactly 60 days to decide whether to appeal.
Future Implications of the Legal Battle
While speaking about the outcome of the legal case between Ripple and the SEC, Rispoli revealed that Ripple may have to… Push their operations outside the United States. If the outcome of the lawsuit becomes adverse, he asserted that this would be a massive blow to the US economy, given the company’s position as a leader in crypto payments and its future goals of becoming a global alternative to… SWIFT network.
He also revealed that Ripple’s plans for an initial public offering (IPO) may be disrupted or delayed by the Securities and Exchange Commission. In addition, the company Launching a stable coin In the future it can be seen as a guarantee, given that SEC’s anti-crypto stance.
Featured image created with Dall.E, chart from Tradingview.com