What Does US Judge's Rejection of SEC-Ripple Agreement Mean? Will XRP Become a Security Now? Ripple CLO Announced!
A US judge rejected the $50 million settlement agreement between Ripple and the SEC on procedural grounds, sparking questions about XRP's legal status. However, Ripple's Chief Legal Officer, Stuart Alderoty, clarified that this decision won't affect XRP's status as a non-security.
Key Points:
-Judge's Decision: Judge Analisa Torres rejected the settlement request due to procedural issues, not because of the agreement's substance.
XRP's Status: Alderoty emphasized that the July 2023 decision stating XRP is not a security remains valid.
Ripple and SEC Agreement: Despite the rejection, Ripple and the SEC are still in harmony regarding the sale of XRP to the public and are committed to resolving the case.
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Next Steps: Both parties will revisit the terms with the court, and the case will likely continue.
Impact on XRP Price:
XRP's price dropped over 6% following the news, partly due to uncertainty about the case's outcome. However, it partially recovered to $2.42.
Ripple CLO's Assessment:
Alderoty believes this procedural ruling doesn't alter Ripple's path to ultimate victory, and both parties remain committed to resolving the case .#CryptoRegulation #BinancePizza #xrp $XRP
