- Ripple disputes SEC’s new expert materials in ongoing legal tussle.
- A crypto enthusiast predicts Ripple’s stance against penalties exceeding $10 million.
- Ripple’s legal battle with SEC intensifies; community awaits court verdict.
In the continuing saga between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has filed a motion to strike the SEC’s latest expert materials submitted in support of its Motion for Remedies and Entry of Final Judgment.
With the Ripple community closely watching, a crypto enthusiast weighed in, suggesting that Ripple’s opposition to the SEC’s motion indicates a stance against any penalty exceeding $10 million, deeming it unfair. Despite Ripple’s favorable outcomes in recent legal proceedings, concerning signs loom, according to the commentator.
Highlighting Ripple’s operational adjustments in response to court rulings, the enthusiast pointed out the offshore relocation of significant operations to Singapore and the introduction of a stablecoin to facilitate U.S.-based transactions without XRP involvement. Additionally, Ripple’s declaration, notably from Monica Long, revealed strategic shifts in business practices.
However, the enthusiast noted a potential ‘Round 2’ in the legal fray, as Ripple indicated that the SEC would need a fresh enforcement action for any new contractual disputes. Ripple also raised the DEBT Box case, adding an extra layer to the legal maneuvering.
Amidst redactions and overlooked email addresses in court documents, the enthusiast speculated that Ripple’s ultimate penalty could fall below $25 million, challenging the SEC’s initial demand of $2 billion.
As the legal drama unfolds, both sides brace for further confrontation, with Ripple’s fate hanging in the balance. The Ripple community anxiously anticipates the court’s verdict, expecting a resolution to the protracted legal battle.
