Markets
XRP News Today: Market Buzzes as Ripple Awaits Court Rulings, Biden Veto Sparks Debate
Senator Cynthia Lummis released a statement and asked for this say about Biden’s veto,
“I will not stand idly by as this administrator attempts to circumvent the law, and I will continue to fight to promote the financial innovation and crypto asset key protection that this administrator seems determined to stifle.”
SEC against Crypto: awaiting court decisions and an appeal
There was no SEC case against Ripple-related updates to influence buyer demand for XRP. Nonetheless, the pending court rulings could leave XRP in a cautious mood.
Investors await court ruling on Ripple Motion to seal. While publicly available agreements and financial statements may attract scrutiny, penalties for violating U.S. securities laws will have a greater impact on XRP.
Ripple may have deep pockets to pay the financial penalty. However, a court ruling banning sales of XRP to institutional investors could affect buyers’ appetite for XRP.
Investors should also consider the SEC’s plan to appeal programmatic sales of XRP. decision. If the US appeals courts overturn the decision on XRP programmatic sales, XRP would fall under the jurisdiction of the SEC. Additionally, investors could avoid XRP in favor of altcoins. The result of SEC vs. Coinbase (PIECE OF MONEY) the case will likely have more implications for the US digital assets space.
Crypto market awaits court ruling on Coinbase Request for interlocutory appeal. In April, Coinbase filed a motion for interlocutory appeal in response to Judge Failla. denyg, in large part, Coinbase’s motion to dismiss (BAT). In the motion to dismiss, Coinbase argued that the SEC lacked the legal authority to regulate crypto exchanges in the United States.
Coinbase waits SEC appeals decision favoring Coinbase MTD.
However, a Republican Party victory could end the SEC’s plans to appeal the ruling on XRP programmatic sales and the war on crypto in the US courts. A Republican Party victory could also open the door to an XRP spot ETF market.