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US SEC Closed-Door Meeting: Implications for Ripple
The U.S. Securities and Exchange Commission (SEC) may reportedly hold a crucial meeting to discuss key issues. These issues include the institution and settlement of injunctive and administrative actions, dispute resolution, and enforcement proceedings. This back-to-back meeting has sparked speculation about the potential implications for Ripple, Binance, and the cryptocurrency market.
SEC Closed-Door Meeting Sparks Buzz in Crypto Community
The US SEC recently convened a closed-door meeting on Thursday, July 11 as part of the usual routine to discuss key issues critical to the commission. However, another meeting scheduled for next week, on June 18, has generated buzz in the crypto community, especially after the recent decision in the Binance lawsuit and a major pending decision Ripple and SEC sue
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The back-to-back meetings have sparked speculation about the potential impact on Binance, Ripple, and the cryptocurrency market. The meeting is rumored to focus on either resolving the injunction requests or settling with Ripple. Market participants are closely monitoring the developments and awaiting the outcome of the meeting.
According to SEC MeetingThe Commissioners, the Commissioners’ legal advisors, the Secretary of the Commission and the secretaries of the meeting will attend the meeting on July 18. The subject matter of the SEC’s closed meeting is:
- Institution and regulation of injunctive actions
- Opening and settlement of administrative procedures
- Dispute Resolution
- Other matters relating to examinations and enforcement procedures.
It should be noted that SEC officials primarily discuss topics related to these issues, unless there is a change in the meeting agenda for publication in the Federal Register.
Read also : FTX Reaches Settlement With CFTC, Subordinates $4 Billion Claim
Recent developments related to Binance and Ripple
Binance won a major victory, although most of the arguments were subject to new hearings. The SEC failed to prove that the secondary sales of BNB were securities, giving Coinbase and Ripple legal support. Coinbase and Ripple Labs are using the decision to challenge the US SEC’s regulatory stance on crypto.
As the cryptocurrency market awaits Judge Torres’ final ruling on sanctions and injunction, Ripple looks back on the anniversary of the landmark summary judgment.
Meanwhile, Ripple lawyers and executives do not believe a settlement will be reached with the SEC, as reported by CoinGape. XRP Price has climbed 18% this week as lawyers, including Fred Rispoli, anticipate the verdict coming this month.
Read also : XRP Soars Over 17%, Here’s Where It’s Going Next