• Latest
judge versus ripple

Judge rejects XRP hodlers‘ bid to join SEC against Ripple case as defendants

Oktober 5, 2021
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ripple

Judge rejects XRP hodlers‘ bid to join SEC against Ripple case as defendants

Ripple's court battle with the SEC could end sooner than expected, but the chances are very slim

coinnewsdaily by coinnewsdaily
Oktober 5, 2021
in Ripple
0
judge versus ripple
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

judge versus ripple

Another development has occurred in the continuing struggle between the distributed ledger technology company Ripple and the Securities and Exchange Commission of the United States (SEC).

Related articles

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
SEC can’t confirm if video of Bill Hinman is actually Bill Hinman in Ripple case

SEC can’t confirm if video of Bill Hinman is actually Bill Hinman in Ripple case

Mai 20, 2022

On Monday, Oct. 4, U.S. District Judge Analisa Torres decided that individuals who own Ripple’s XRP coin are ineligible to be named as defendants in the company’s ongoing action against the cryptocurrency exchange.sec ripple

Following a number of XRP token holders‘ attempts to file „friends of the court“ papers, which would have allowed them to join the lawsuit as defendants and support Ripple in its arguments that the token does not violate securities laws, the court reached its decision on the matter.

According to Law360, Judge Torres stated that permitting XRP holders to join the lawsuit would „compel the SEC to launch an enforcement action against them.“ She went on to say that it would also cause a delay in the litigation, which Ripple and token holders have requested to be resolved as soon as possible.

The judge, on the other hand, concluded that token holders can engage in the action as „amicus curiae,“ which is a party that is not a party to the litigation but is permitted by the court to advise or submit information to the court. Torres made the following statement:

“The court concludes that amici status strikes a proper balance between permitting movants to assert their interest in this case and allowing the parties to remain in control of the litigation.”

Counsel for Ripple, Andrew Ceresney, said that they were pleased with the outcome for XRP holders that can now “share their meaningful perspectives with the court.”

In a motion to intervene filed in March, the XRP holders claimed that they stood to lose billions should the regulator win the case. It also questioned the SEC’s claimed motives of protecting investors.

“Claiming to protect investors, the SEC is seeking $1.3 billion in alleged ill-gotten gains from the named defendants, but by alleging that today’s XRP may constitute unregistered securities, the SEC caused over $15 billion in losses for XRP holders,” the filing said.

This has the potential to make the case, which is estimated to take more than a year to resolve, go more swiftly than it otherwise would.

If either Ripple or the SEC are not in agreement, both parties must write a combined letter stating that they are withholding their approval.

Specifically, according to Jake Chervinsky, general counsel for Compound, the parties are automatically requested to utilize a magistrate judge due to the fact that this is regular court process. Even if all sides agree, it is unlikely that the case’s timing will be impacted significantly.

On his blog in September, Deaton expressed his dissatisfaction with the regulatory „free pass“ that Ethereum has received for its initial coin offering (ICO), whereas Ripple has been subjected to sanctions. This cryptocurrency has been strictly controlled by the San Francisco-based business, which still retains around 55 percent of the total supply in escrow, since its inception.

Joseph Lubin, the co-founder of Ethereum, responded in an interview on October 4 by supporting with the regulator and claiming that the cryptocurrency exchange had legitimate grounds against Ripple:

“[The SEC] may have legit arguments in the cases that are being discussed right now. I don’t believe the SEC is trying to squelch innovation.”

Tags: RippleRipple executiveXRP
Share76Tweet47
Previous Post

Price analysis 10/4: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, LUNA, UNI

Next Post

Axie Infinity hits a new ATH at $155 while Bitcoin bulls aim for $50K

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Alt Coin

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
SEC can’t confirm if video of Bill Hinman is actually Bill Hinman in Ripple case
Ripple

SEC can’t confirm if video of Bill Hinman is actually Bill Hinman in Ripple case

Mai 20, 2022
Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Bitcoin

Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 19, 2022
Price analysis 5/4: BTC, ETH, BNB, SOL, XRP, LUNA, ADA, DOGE, AVAX, DOT
Bitcoin

Price analysis 5/4: BTC, ETH, BNB, SOL, XRP, LUNA, ADA, DOGE, AVAX, DOT

Mai 5, 2022
price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
ripple claims ‘a very big win’ in sec case
Ripple

Ripple claims ‘a very big win’ in SEC case

April 19, 2022
Load More
Next Post
axie infinity hits a new ath at $155 while bitcoin bulls aim for $50k

Axie Infinity hits a new ATH at $155 while Bitcoin bulls aim for $50K

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev