THE REASON FOR RIPPLE XRP'S 16% DAILY GROWTH |
THE REASON FOR RIPPLE XRP'S 16% DAILY GROWTH Unlike many other cryptocurrency-related companies that have taken the path of accepting charges and paying a fine, Ripple decided to challenge the case, deciding to prove that XRP is not a security. The case went one way or the other, but more recently the court rejected the Commission's request to deny reasonable protection to Ripple. The said motion focused on whether Ripple had received reasonable and fair notice from the SEC about whether the XRP sales were illegal securities sales. A HUGE VICTORY FOR RIPPLE Additional clarity was also provided by Ripple's general counsel Stuart Alderoti, who said: Today's order makes it clear that there is a serious question about whether the SEC has ever notified Ripple that its distribution of XRP - since 0213 — will ever be prohibited by securities law. He also added: It's nice to see that the judge rejected the SEC's attempt to prevent Ripple from upholding fair notice. It is even more important that the SEC's approach to "regulation through enforcement" finally comes to a standstill. Now the price of XRP has risen from about $0.72 to $0.84 shortly after the documents were made public. Source: TradingView The cryptocurrency has since returned to where it is currently trading, but it is still up 7% on the day. Go back |
13-03-2022, 11:57 |