Ripple, the company behind XRP (XRP), and the US stock exchange supervision Sec (Securities and Exchange Commission) have applied for a break together in the current legal proceedings. They submitted a joint application that could possibly end the years of legal thawing. An end to the procedure could have a significant impact on the XRP course and the entire crypto industry.
Ripple and Sec and SEC submit a joint application
Ripple and the SEC jointly requested that the ongoing appeal and counter-professions be suspended in order to achieve a possible agreement. Attorney James Filan divided into X With the fact that the application was submitted on April 10 and that only the formal consent of the SEC is pending.
Filan said that Ripple and the SEC have made a preliminary agreement to enclose all open issues – both in the SEC procedure against Ripple and in the opposite procedure of Ripple against the authority.
A trend -setting case for the future of the crypto industry
The legal dispute against Ripple has been going on for years and is often the focus of debates on cryptor regulation in the United States. The fact that the SEC is now ready for a comparison is considered a positive signal for Ripple and XRP – and could also have far -reaching consequences for the crypto industry as a whole.
The SEC had sued Ripple at the end of 2020 due to the sale of non -registered securities (in this case XRP). The case goes beyond Ripple – it affects the fundamental classification of cryptocurrencies.
While Bitcoin (BTC) And Ethereum (ETH) no more than securities are not yet true for many other cryptocurrencies. This creates legal uncertainty and prevents many coins from Exchange-Traded Funds (ETFs) can be traded on the stock exchange.
With a possible end of the procedure, the hope of several asset managers is now increasing for an early admission of Spot-XRP ETFs.
Not a strong price reaction on XRP news
Like the whole Cryptoma market Also recorded a significant increase in price on Wednesday, April 9th-favored by the 90-day suspension of the US import tariffs. Since then, the course has increased by 12.5 % and is currently $ 2.02.
However, XRP hardly reacted to the message for agreement in the legal dispute. Analysts assume that an agreement was largely expected and therefore did not trigger a course explosion.