New verdict in the Ripple case!
U.S. Securities and Exchange Commission (SEC) in December 2020Ripple, who was sued by the for an unlicensed securities claim in , managed to win another hearing.
🚩New Development in SEC and Ripple Case
As the case between the SEC and Ripple continues at full speed, Ripple appears to have achieved another victory. Ripple is known to have received advice and reports from some consulting companies regarding the legal status of XRP in its early years. The SEC took a step to end Ripple's entire defense by demanding that these reports be shared with the court.
Although the famous lawyer James K. Filan emphasized that this was an objection that could end Ripple's entire defense, the SEC's request was rejected and Ripple won the victory. The court dismissed the SEC's request, ruling that this was unrelated to the case.
🚩Victory is Ripple's for now
Although the SEC still has the right to appeal, the statement from the court is clear. In addition to Filan, Jeremy Hogan also emphasized that this is a very important development in his statement on the subject and stated that the path that the SEC wanted to use in the legal fight with Ripple was officially blocked.
🚩XRP price also rose after this news, reaching 3.7% rise in the market, which was completely down. Although the fate of the XRP price will not be fully clarified until the end of the case, small victories like this one continue to affect the price.
Although it is still not known how the securities lawsuit against Ripple will end, this big blow by the SEC may have turned the situation in favor of XRP.