The U.S. Securities and Exchange Commission (SEC) recently rescheduled a closed meeting from July 18 to July 25, sparking speculation about its potential impact on the ongoing Ripple case. While some in the crypto community viewed this as a sign of progress, XRP lawyer Bill Morgan swiftly dismissed such notions.
XRP Lawyer Clarifies SEC Meeting’s Relevance to Ripple Case
The SEC’s closed meeting agenda included:
- Institution and settlement of administrative proceedings
- Resolution of litigation claims
- Examinations and enforcement proceedings
Despite the underlined focus on "settlement," Morgan clarified that this meeting "Doesn’t apply to Ripple v SEC." Former SEC lawyer Marc Fagel echoed this, stating neither party is currently pursuing a settlement. Both await the district court’s decision in the remedies phase.
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Ripple CEO Anticipates Case Resolution
Ripple CEO Brad Garlinghouse expects the SEC case to conclude soon, emphasizing the 2023 partial victory’s implications for crypto regulation. The lawsuit, initiated in December 2020, hinges on whether XRP qualifies as a security—a claim Ripple and the broader crypto community contest.
XRP Price and Market Performance
- Current Price: $0.59 (7.89% surge in 24 hours)
- 24-Hour Trading Volume: $1.79 billion
- Market Cap: $33.26 billion
Key Takeaways:
- The SEC meeting is unrelated to Ripple’s case per legal experts.
- Ripple’s leadership remains optimistic about a near-term resolution.
- XRP’s price shows volatility amid ongoing legal developments.
FAQ Section
Q: Could the SEC’s closed meeting lead to a Ripple settlement?
A: No. Lawyers confirm the meeting’s agenda doesn’t pertain to Ripple’s case.
Q: What’s the next step in the Ripple-SEC lawsuit?
A: Both parties await the court’s decision on remedies for institutional sales of XRP.
Q: How has XRP’s price reacted to recent developments?
A: XRP gained ~8% in 24 hours, reflecting market sensitivity to legal updates.
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Keywords:
- Ripple XRP case
- SEC settlement
- XRP price
- Cryptocurrency regulation
- Bill Morgan
- Brad Garlinghouse
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