geoff_24
6 posts
🚨SCOOP: Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.
My understanding is that the delay in reaching an agreement is due to Ripple's legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125M fine on the company and included a permanent injunction preventing the company from selling $XRP to institutional investors.
The argument, I’m told, is that if the new SEC leadership is wiping the enforcement slate clean for all previously-targeted crypto firms because it believes regulatory clarity will resolve the underlying issue, why should Ripple still be penalized? Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred.
There’s no real playbook for this kind of thing which could explain why this case is taking longer to resolve than the rest. Stay tuned.
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JUST IN: WisdomTree officially files S-1 for its spot $XRP ETF.
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🚨SCOOP: Ripple poised for New York approval of stablecoin, set to enter regulated US crypto market
People close to the matter say the @NYDFS has indicated to @Ripple it will approve $RLUSD and the company is eyeing a possible launch date of Dec. 4th.
foxbusiness.com/markets/ripple…
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SEC website regarding Gary Gensler resignation on January 20, 2025:
"Nov. 21, 2024 - The Securities and Exchange Commission today announced that its 33rd Chair, Gary Gensler, will step down from the Commission effective at 12:00 pm on January 20, 2025."
sec.gov/newsroom/press…
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Testing, testing…RLUSD! We’re excited to share that Ripple USD (RLUSD) is now in private beta on XRP Ledger and Ethereum mainnet. RLUSD has not yet received regulatory approval and therefore is not available for purchase or trading – please be cautious of scammers who claim they have or can distribute Ripple USD. ripple.com/insights/a-new…
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