Ripple’s Request Granted
- Recently, the U.S. Securities and Exchange Commission (SEC) has given Ripple a chance to postpone the $125 million settlement.
- The decision comes in response to Ripple’s plea for extra time to tackle the persisting legal and regulatory hurdles.
- If successful in court, Ripple’s case could influence how the SEC acts towards other firms operating crypto businesses.
Previous Lawsuit Update: Ripple Lawsuit Update | Awaiting the Final Verdict
SEC’s Approval & Ripple’s Legal Strategy
The SEC’s agreement highlights how intricate this case is, given that both sides have been embroiled in protracted legal battles. Ripple sought the postponement so that all elements of the settlement could be examined closely and its stakeholders’ interests safeguarded adequately.
The approval for deferral by SEC could be construed as an indication of more prudential enforcement of regulations in the swiftly changing cryptocurrency terrain.
Impact on Ripple & the Crypto Market
For Ripple and the wider cryptocurrency market, the postponement in the settlement may have far-reaching effects. Ripple has been embroiled in a major lawsuit with SEC claiming that its XRP token is an unregistered security.
This delay provides more room for Ripple to prepare its defence while possibly negotiating for better terms.
Future of Ripple
The SEC has agreeing Ripple the delay request emphasizes there is nothing certain about regulation as far as cryptocurrencies are concerned.
This development is closely watched by investors and market participants as it could impact the future of XRP & other digital assets.
For further updates, keep an eye on our website- ReadingCrypto!
