Another Positive Development for $XRP in the Ripple-SEC Case – SEC Withdraws One Claim After Another.
Following the virtual conclusion of the Ripple-SEC case yesterday, the SEC took another positive step regarding Ripple today.
Although the SEC had opposed this matter at various stages following Judge Torres’ decision, the final decision approved Ripple’s exemption from Rule 506(d) disqualification under the Securities Act.
This decision removes the obstacle for Ripple to benefit from investor exemptions under Regulation D.
The Commission stated that, given the current circumstances and previous decisions, there was “good cause” not to apply the disqualification that would have resulted if the preliminary injunction granted by the final judgment were lifted. Thus, Ripple officially gained exemption from the relevant provision of the Securities Law.
So what does this mean? Ripple will be able to continue raising capital in private markets. It could even be said that business as usual will continue as if the lawsuit and $125 million fine never occurred.
The case between Ripple and the SEC effectively ended yesterday when the SEC officially withdrew its appeal. The $XRP price reacted extremely positively to this development, trading at $3.3 at the time of writing.
