The US Securities and Exchange Commission (SEC) is said to be considered whether the payments Altcoin XRP can qualify as a merchandise.
Crypto journalist Eleanor Terrett, with reference to two anonymous ‘well-placed sources’, reported earlier this week that the SEC court against Ripple seems to have been completed.
The lawsuit may have been resolved, but the Ripple’s legal team has extended the case in an attempt to reduce a civil fine of $ 125 million that was ordered by a judge last year, according to Terrett’s report. The SEC recently left countless high-profile crypto cases in accordance with the embrace of the Trump government sector.
Charles Gasparino, a senior correspondent from FOX Business, reports that the SEC also weighs whether XRP can be classified as a merchandise.
The SEC has first sued Ripple for alleged sale of XRP at the end of 2020 as a non -registered security.
In 2023, district judge Analisa Torres ruled that Ripple’s automated, open-market sale of XRP did not constitute security offers, in contrast to what the SEC claimed.
The judge the side of the security of the SEC that Ripple’s sale of XRP directly to institutional buyers was a supply of securities.
XRP acts at $ 2.24 at the time of writing. The fourth ranking of the market with market capitalization has fallen by almost 14% last week.
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