Fri, April 26, 2024 at 18:49

• 

  Kang-hoon

  • Good day, Annie.

  • Today, I'd like to discuss the ongoing Ripple XRP lawsuit with the United States Securities and Exchange Commission (SEC) that has been in progress for over three years.

  • 
• Annie

  • Oh, I've heard about that!😮 It's been quite a long time, hasn't it?

  
• 

  Kang-hoon

  • Indeed, it has.

  • The case has now moved to the remedies stage and is expected to reach a resolution or even a mutual agreement soon.

• Annie

  • That sounds promising!👍 So, what's the next key date in this lawsuit?

  
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• 

  Kang-hoon

  • The next pivotal date is April 29, 2024.

  • On this day, the SEC will give a rebuttal to Ripple's motion.

• Annie

  • I see... And what's this about Ripple requesting to dismiss the SEC's recent expert submissions?

  
• 

  Kang-hoon

  • Ripple requested to dismiss the SEC's recent expert submissions, which could potentially strengthen the SEC's case for remedies and a final judgment.

  • However, Judge Sarah Netburn issued a scheduling order in place of this request.

• Annie

  • Hmm...🤔 And what about the settlement amount?

  • I heard there were some disagreements.

  
• 

  Kang-hoon

  • Yes, there are varying opinions on the settlement amount.

  • Attorney Jeremy Hogan believes that Ripple will end up paying a $100 million settlement, which is significantly less than the $2 billion penalty that the SEC initially requested.

• Annie

  • Wow, that's a huge difference!😲 What's Ripple's stance on this?

  
• 

  Kang-hoon

  • Ripple's CLO Stuart Alderoty stated that the penalty should be no more than $10 million, which the company agreed to pay for violation of Section 5 of the Securities Act of 1933.

• Annie

  • I see...

  • So, is this news good or bad for the market?

  
• 

  Kang-hoon

  • In the short-term, this news could be seen as negative.

  • The ongoing uncertainty surrounding the lawsuit and potential hefty settlement could lead to volatility in Ripple's price.

  • 

  • However, once a resolution is reached, it could provide a clearer regulatory landscape for Ripple and other cryptocurrencies.

  • Upon comprehensive consideration, this news is perceived as a 😱Bearish.