Following today’s development of cases between Ripple (XRP) and the SEC, there have been significant changes in the course of the cases.
Tonight, Ripple’s Chief Legal Officer Stuart Aldeoty announced that after the SEC retracted its opposition to case results, Ripple itself has also withdrawn its anti-rejection, and that it will return $75 million of the $125 million it earned as a penalty.
Following this very positive development, the important dates for future cases between Ripple and the SEC have also changed.
As of today, we will wait for the SEC to vote for the final amendment. This vote is expected to take up to 30 days. We will then wait for the SEC to file a motion to vacate the interim injunction. Judge Torres will sign it (within 30 days of filing the petition).
In the current situation, Ripple cases will be formal and legally made within 60 days of today.
It was the incident that Sec Chairman Gary Gensler, known as Crypto Hater, was the main battlefield between the crypto industry and regulatory authorities. Therefore, the crypto industry leaves the litigation process with a very important victory.
*This is not investment advice.
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