Could SEC Withdraw Its Case Against Ripple to Avoid Negative Exposure?
Yassin Mobarak, founder of the private equity firm Dizer Capital, suggests that the United States Securities and Exchange Commission (SEC) might withdraw all accusations against Ripple and its CEO Brad Garlinghouse. Mobarak believes that the SEC uses litigation as a way to maintain uncertainty in the crypto sector and may not want a trial where their alleged corruption can be exposed. He also argues that Ripple has provided clarity in the crypto market with its recent legal victory, which could put the SEC’s agenda at risk. Mobarak concludes that the SEC may end the case as soon as possible to sustain the cloud of uncertainty on the entire industry.
Despite Mobarak’s prediction, many users who commented on his statement are skeptical, considering the SEC’s determination in previous cases. They believe that the Commission will not give up on its case against Ripple and may try to delay the conclusion for as long as possible. The legal battle between Ripple and the SEC began in December 2020, with the agency suing Ripple for allegedly trading billions of dollars worth of XRP as a security without registering with the Commission. The lawsuit has been ongoing for over three years and has had several significant moments, including Ripple’s recent victory in having an appeal request by the SEC dismissed. The trial date for the case has been set for April 23, 2024.
#SEC #Ripple #XRP #Crypto #Litigation #Bitcoin #Cryptocurrency #SECvsRipple
Image: https://weeklyfinancenews.online/wp-content/uploads/2023/09/bitcoin8.png
Comments are closed.