One of the largest cryptocurrencies by market cap, Ripple (XRP), is battling out its court case with the SEC in the U.S. and the final verdict may be fast approaching.
The outcome of this case could have one of the most significant effects on cryptocurrency regulation and the industry’s future, particularly concerning securities classification.
The main issue that led to SEC suing XRP is the belief that Ripple is not a security like stocks, bonds, shares, or ETFs. If this is proven true, it means that Ripple has falsely advertised itself as a security to investors.
Ripple holds out on the hope that the judges will see that its cryptocurrency, although a bit more volatile, is an investment asset like stocks or other major asset classes.
There is support towards Ripple in this case from both companies and wealthy individuals.
According to Reuters, Coinbase voiced support for Ripple in November 2022, and more recently, Ryan Selkis – co-founder and CEO of Messari – voiced his support on Twitter. Initially opposed to Ripple, the industry leader has come around to give his support.
The SEC sued Ripple in December 2020, with allegations that the company has essentially made an unregistered securities offering of $1.3 billion since the inception of the token.
As the case fast approaches a close, the question of what will happen to Ripple once the verdict is reached remains.
Crypto Lawyer John Deaton has gone on Twitter to voice his opinion on Ripple highlighting its attractive risk-reward ratio.
He went on to add in his tweet that a ruling from Judge Analisa Torres is soon to come. If the SEC wins the case, Ripple will have the option of appealing the ruling.
Ripple’s reaction to the verdict in terms of price movement is unknown. If the SEC wins the case, the confidence of investors in this industry may be dampened and lead to investment outflows.
The company’s executives remain optimistic about the outcome of the case. The president of Ripple, Monica Long, stated in an interview with CNBC that she was optimistic about the court reaching a favorable verdict and also stated that an imminent ruling is unlikely.
Signuptoken.com Will Officially Launch At 1 Million Email Addresses
Signuptoken.com is an exciting new opportunity to get in on for investors who want to own crypto but not devote any money.
All you have to do is give your email address. Once the website has officially registered 1 million users on its website, the token will launch, revealing further details to its followers.
The website has received 2,000 sign ups so far and is on its way to garnering more emails from an interested audience.
If you’re interested in investing in crypto without having to part with your hard-earned cash, this token is for you!
Sign Up Your Email With Signuptoken.com:
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken_
Telegram: https://t.me/SignUpToken
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
