- Fred Rispoli questions whether the SEC must pay statutory interest if Ripple wins on every issue in their legal battle.
- The potential financial impact on the SEC could set a precedent for how penalties are handled in future cases.
Rispoli’s inquiry focuses on the ongoing legal struggle between the United States Securities and Exchange Commission (SEC) and Ripple, the firm behind the cryptocurrency XRP.
Exploring the Potential Financial Fallout for the SEC if Ripple Wins the Appeal
This question is especially relevant because it addresses the potential financial consequences for the SEC if Ripple prevails in the appeals process.
The legal struggle between the SEC and Ripple has been one of the most keenly watched issues in the bitcoin industry.
The SEC’s initial action against Ripple accused the company of conducting an unregistered securities offering through the sale of XRP coins. Ripple has continuously refuted the charges, claiming that XRP should not be classified as a security.
Judge Analisa Torres decided that secondary XRP sales are not securities, establishing an important precedent in the crypto business.
Alan Schwartz, a Yale Law School professor, examined all 1,700 contracts and summarized them for the court. From 2013 to 2020, the company signed the contracts.
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