- No appeals dropped; parties agreed judgment unchanged.
- Ripple’s $50M offer lacks SEC acceptance.
- Ongoing concerns keep XRP market dynamics uncertain.
Brad Garlinghouse-led Ripple and the SEC remain in dispute over unresolved appeals in their high-profile lawsuit.
The unresolved appeals process in Ripple v. SEC maintains unpredictability for XRP, leaving markets watchful.
Ripple Labs, under CEO Brad Garlinghouse, and the SEC, led by Chair Gary Gensler, remain locked in a legal stalemate. Both parties filed a joint motion to end the lawsuit early, but it was denied by Judge Torres.
Ripple’s $50 million settlement offer contrasts with the SEC’s initial $125 million penalty demand. As no appeals have been dropped, the legal impasse persists with no immediate resolution in sight.
The lawsuit continues to affect Ripple’s native asset, XRP, keeping the markets volatile. Ongoing legal concerns contribute to an unpredictable market environment, influencing investor sentiment.
“In fact the parties have agreed that the substantive summary judgment ruling made by Judge Torres in July 2023 will remain in place and will not be vacated, amended or modified” – Bill Morgan, Legal Expert.
Financial implications include penalty negotiations, with broader regulatory implications for similar altcoins. XRP holders face lingering uncertainty, although secondary sales remain non-securities.
Expert analysis suggests the appeals could influence future legal frameworks for crypto-assets. Meanwhile, Judge Torres’ decision is upheld, preserving current interpretations favorable to XRP’s secondary market status.
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