What If SEC Lose Summary Judgment? latest News

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Amid growing demands for regulatory clarity regarding digital assets, the US SEC recently filed its motion for summary judgment in the XRP lawsuit. The event has fueled the Ripple community’s hopes of seeing a resolution on the nature of XRP soon.

This Token Has Surged 20 In The Crypto Crash By CryptomarketBag

XRP lawsuit to bring regulatory clarity?

It is expected that the outcome of the XRP lawsuit will eventually provide clarity on digital assets as well. However, the lawyers for John Deaton, Amicus Curie or XRP holders in the case do not think so.

According to Deaton, people are making a big mistake in thinking that If Ripple Summary Wins In short it will help and will be applicable to other cryptos going forward. He expects the SEC not to respect the court’s ruling in the XRP lawsuit. However, the commission will continue its war on crypto.

He said SEC Chairman Gary Gensler would appeal the judge’s decision. It would argue that the judge was wrong. While he is expected to win on appeal. Meanwhile, the decision will only apply to XRP and not to other digital assets.

However, if the court declared XRP a non-security along with Bitcoin (BTC). Then it will become the only crypto token with clear rules.

Will the SEC Go After Bitcoin?

Meanwhile, Gensler claims that Ethereum transactions are subject to US jurisdiction and that its historic merger with PoS may have triggered securities laws. Deaton mentioned that Jay Clayton inadvertently provided the gift of clarity to Ripple and XRP.

Earlier, Coingape reported that the SEC is starting an argument that global XRP sales may fall under its jurisdiction.

The amicus curiae in the XRP lawsuit suggested that the SEC’s official position on bitcoin is that they have not made a determination on it. However, he clarified that he does not indicate that the commission will go after BTC. It’s hard to believe that the SEC doesn’t hold a position on the world’s largest crypto asset.

Ashish believes in decentralization and has a keen interest in developing blockchain technology, the cryptocurrency ecosystem, and NFTs. His goal is to create awareness about the growing crypto industry through his writings and analysis. When he’s not writing, he’s playing a video game, watching an exciting movie, or going out for an outdoor sport. reach me [email protected]

What If SEC Lose Summary Judgment latest News CryptomarketBagWhat If SEC Lose Summary Judgment latest News CryptomarketBag

The material presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for your personal financial loss.



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