what will happen if ripple wins lawsuitpython write list to file without brackets

Please read our privacy policy and legal disclaimer. The SEC vs Ripple case is widely publicized, with regulators and policymakers worldwide waiting for a conclusive result. But what about other crypto projects? It is not clear what will happen to the price of Ripple after the lawsuit. The dark cloud that has hung over the Ripple network since 2020 would finally blow over, and Ripple Labs would enjoy a renewed and reformed reputation in the crypto market. Ripple could have exactly what it needs to win over the judges. Ripple disputes the charges made against them because XRP is, in fact, a currency and cannot be subject to laws under the securities act. of the Ripple case and then he may go after, Click to email a link to a friend (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Ripple and the SEC were recently allowed to re-brief the court, a win on fair notice could save the industry from the SEC, FlexTrades FlexONE captures Best Buy-Side OMS award, Saxo Bank reports higher FX volume for February 2023, Bitso launches Mastercard-backed crypto card in Mexico, HSBC and Nationwide block transactions with crypto exchanges. The Securities and Exchange Commission's case against Ripple is drawing to a close. They insist that Garlinghouse and Larsen made misleading and downright untrue statements about the XRP token and failed to officially register the sale, making the offering a violation of federal securities laws. For the company, it would mean an increase in liquidity, clients, and the growth of the XRP ecosystem in the US, making it available to be traded as a . We focus on delivering fast and objective news about cryptocurrencies and crypto markets with a swirl of passion. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/even-if-ripple-wins-its-sec-lawsuit-the-crypto-ballgame-isnt-over/. Broker-neutral technology firm FlexTrade Systems FlexONE solution has once again emerged top among the best buy-side execution management systems. Polkadot (DOT) price dropped in tandem with Bitcoin and Ethereum amidst the rising uncertainty surrounding Silvergate bank. Given that XRP is still 86% down from its 2018 ATH of $3.40, and given that it failed to set a new ATH in the 2020-21 bull market (because of the legal case), there's a very strong chance that its price will rocket once its tussle with the SEC is resolved. Even a legal victory might not change this narrative. In this case, traders may want to consider looking at some of the promising new altcoins that have appeared on the market in recent weeks, with several new tokens currently undergoing their own presale. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The author will not be held responsible for information that is found at the end of links posted on this page. Supporters of the Ripple lawsuit are already hyped to win the case against the SEC lawsuit with the long delay in showing evidence from the SEC side. Ripple has disputed the SEC's findings, arguing XRP should be treated as a virtual currency rather than an investment contract like a stock. CryptoNewsZ predicts that XRP could rise to as high as $0.68 in 2025. Assuming that XRP surpasses its former record high by this percentage, this would imply an eventual price of about $12.24. Of course, the real interest lies in predicting by how much it will surpass its former ATH, although reaching $3.40 alone will equal a 660% gain. How many different uses does a knife have? XRP is still in high demand as exchanges outside of the US aim to list the token, although there is skepticism about where XRP will end up. Gensler gets the credit helping his political chances. Needless to say, this is the best-case scenario, and it assumes another bull market on the scale of last year's, which certainly isn't a given right now. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The claim is that they traded $1.3 billion in their cryptocurrency XRP as a security without registering it with the SEC. 2020 was a striking year for cryptocurrencies as it ended with the most prominent bull run since late 2017. Ripple or XRP prices surged in 2021, but had not yet reached the heights from late 2017, making this digital coin different from other cryptocurrencies. The SEC vs. Ripple lawsuit has dragged on since 2020, with many twists and turns, some in favor of the payment giant. The platform has its own currency (XRP) but allows everybody to use the platform. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. For now, there is no official announcement on the court's position. The cookies is used to store the user consent for the cookies in the category "Necessary". "So what happens to XRP holders if XRP is declared a security and has to be registered with SEC?", a Twitter user recently asked John Deaton, the attorney representing over 67,000 XRP holders with amicus curiae status in the case. The cookie is used to store the user consent for the cookies in the category "Other. XRP tokens are distributed to companies and financial institutions such as Santander, the Commonwealth Bank of Australia, or MoneyGram to create fast transactions through the Ripple network and avoid high conversion fees. The agency first launched into a lawsuit in December against Ripple Labs' CEO Brad. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? In partnership with Mastercard, Latin Americas most popular exchange, Bitso launched a debit card in Mexico offering cryptocurrency rewards on customers purchases. Some of Ripple XRP's rivals include: Stellar Lumens (XLM) Bitcoin (BTC) Litecoin (LTC) Dash (DASH) Ethereum (ETH) Arguably, Ripple's real rivals are not other cryptocurrencies but established payment providers. This website uses cookies to improve your experience while you navigate through the website. By press time, XRP was trading at $0.37. But opting out of some of these cookies may affect your browsing experience. Upgrade your inbox and get our DailyCoin editors picks 1x a week delivered straight to your inbox. XRP gets listed on exchanges that delisted it. The pattern element in the name contains the unique identity number of the account or website it relates to. Looking further back in time, Ripple has earned itself a number of positive judgments so far in the case, all of which suggest it will secure a good summary judgment. When the XRP token launched in 2012, no one expected this humble cryptocurrency to spark one of the most iconic legal battles in blockchain history the SEC vs Ripple lawsuit. What will happen to the dozens of banks? With XRP being the token of contention, the case outcome will likely impact the asset's price. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The author has not received compensation for writing this article, other than from FXStreet. Those implications could cause the SEC to avoid a trial or Summary Judgment. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. These cookies ensure basic functionalities and security features of the website, anonymously. The winning argument Ripple makes will be added to case law for future cases. All rights reserved. The sixth-ranked cryptocurrency by the market currently controls a market cap of $18.6 billion. If XRP is declared a security, Ripple Labs would be ordered to pay a fine for selling unregistered securities. With the market as a whole down by 4% today, the XRP price has seen above-average losses, largely because it had enjoyed above-average gains prior to the current selloff (brought on mostly by pessimistic expectations surrounding an inflation report due today in the US). This cookie is set by GDPR Cookie Consent plugin. Even if youre not an XRP holder, the result of the XRP lawsuit is expected to change the way cryptocurrency is regulated in the United States. Well, everything. Based on an average of price predictions given by the panellists, XRP could hit USD 2.55 by December this year if Ripple wins the case. These factors point towards a higher possibility that Ripple will win the legal battle. A positive or negative conclusion to the SEC lawsuit will drastically and irreversibly change the blockchain space in the US. Sign up below to get this incredible offer! We also use third-party cookies that help us analyze and understand how you use this website. If Ripple wins the case, exchange listing skepticism will be disregarded, and more XRP liquidity transfers will start in the US market. To be derived from the efforts of others: The final requirement implies that all profits are earned from the work and efforts of others. More international banks adopt. Earlier this week, Ripple's chief executive Brad Garlinghouse revealed the SEC had filed a lawsuit against the company arguing the XRP token is a tradable asset, known as a security, and as such . The final judgment also appointed Holland & Knight, LLP, as Distribution Agent for the Fair Fund to, among other things, oversee the administration and distribution of the Fair Fund to harmed investors and Miller Kaplan Arase LLP as Tax Administrator to fulfill the tax obligations of the Fair Fund. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. In addition, the SEC is also in the hot seat with Senator Elizabeth Warren. It was a bad start to Christmas. The source says XRP may become one of the most favourite cryptocurrencies. With time, crypto enthusiasts have become numb to the battle. The current method of transferring money across countries uses something called swift. It's just that it can be argued at trial. These cookies track visitors across websites and collect information to provide customized ads. The Currency Analytics. It has scored a number of procedural victories. John Deaton enlightens that, If the U.S SEC wins its claim over its allegations against Ripple. The motion, filed on behalf of XRP holders, was responded to by both parties a few days ago. HSBC Holdings and Nationwide Building Society joined major UK banks in banning purchases of bitcoin and other cryptocurrencies via credit card following a recent regulatory crackdown. Security wise, I am unsure. Necessary cookies are absolutely essential for the website to function properly. Bearish scenario: Ripple loses the case, and the token gets banned worldwide - In this case, Ripple will need to find a different business model, and the price of XRP can crash to the lows of . Fox Business journalist Gasparino has recently concluded that SECs Gensler is waiting on the outcomeof the Ripple case and then he may go after Ether. Home Cryptopedia SEC vs Ripple: Will One Lawsuit Decide the Fate of the Crypto Industry? But as soon as real dollars become involved, thats where the authorities can clamp down. This website uses cookies to improve your experience while you navigate through the website. On February 17, 2021, the Court issued an Orderapproving the Claims Process and Distribution Plan. Not everyone may be particularly happy with waiting another few months for significant XRP gains. In other words, this should be a positive sign for XRP. XRP Price Prediction as Ripple Lawsuit Set to Conclude in 2023 - Can XRP Reach $10 if Ripple Wins the Case? The SEC also claims that the Ripple CEO and co-founder were less than honest about the sale. At that point, a federal judge will either decide the case or have it go to trial. As seen in the chart above, the Relative Strength Index (RSI) is close to the oversold region. The final judgment created a Fair Fund, so the penalty, along with the disgorgement and prejudgment interest, could be distributed to investors harmed by the Defendants conduct. Binance has continued to remain committed to increasing the adoption and mainstream accessibility of crypto and we are excited to be taking this step in making access to digital assets effortless for more Africans., There is a massive opportunity to provide huge gains in efficiency to wealth management clients due to the failures of existing players in this market.. Judge Sarah Netburn is performing an in camera review of the documents the SEC claims to be privileged information in order to decide whether they can be handed over to Ripple as part of the fact discovery. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ripple is thus a payment network between institutions that helps decrease conversion and payment fees by relying on the xRapid network. The Ripple platform is an open source protocol which is designed to allow low cost and fast transactions. At the very least, XRP's decline today may be disappointing, but it offers the chance to buy the altcoin at a discount before it begins to make serious gains. Upgrade your inbox and get our DailyCoin editors picks 1x a week delivered straight to your inbox. Bitcoin: Whats next for BTC after $65 million worth liquidations. pessimistic expectations surrounding an inflation report, Binance, PoS Giant Ingenico Seal In-store Crypto Pay Deal, Terra Luna Classic Price Prediction as LUNC Turns Green Here's Where LUNC is Headed Now. If the U.S. government wants your money, they'll get it eventually. Are Payment Cards To Face The Same Fate As Cash In The Virtual Age? The XRP token was delisted from the popular exchange in January 2023. You can always unsubscribe with just 1 click. The post XRP Lawsuit: A Huge Win Secured appeared first on The Motley Fool Canada. You also have the option to opt-out of these cookies. On November 1, 2019, the Court entered a final judgment that ordered the Defendants to pay $7,891,600 in disgorgement and $582,535 in prejudgment interest, and Middleton to pay a $1,000,000 civil penalty. According to the crypto analyst, the lawsuit between Ripple Labs and the SEC, which was filed in December of 2020 on allegations that XRP was sold as an unregistered security, could ultimately provide regulatory clarity for the token while the rest of the space ends up in limbo. Its because he wants the option of going after them. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Blackswan events like the shocking bankruptcy of Sam Bankman Frieds crypto exchange FTX have only added to the SECs case against crypto. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? Between breaking down complex crypto content into simplified, digestible chunks, Finn also doubles as an advisor for new protocols entering the space. The pattern element in the name contains the unique identity number of the account or website it relates to. This cookie is set by GDPR Cookie Consent plugin. It would be one of the biggest settlements in SEC history. Theres a way for the Ripple case to end and all parties win. What arguably should affect your decision on XRP is its technical posture. Follow These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. But, in December 2020, the crypto turned into the most scandalous one when SEC filed a lawsuit against Ripple Labs, allegedly claiming that the XRP token was a security . All Rights Reserved. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Iwas referencing the Veritaseum case. Whats crazy ironic, is that, with Gensler at the helm, the lawsuit could ultimately give Ripple and XRP an advantage moving forward, he concluded. For its part, the SEC claims that ex-director Hinmans prior clarifying opinions about Ethereum and Bitcoin (CCC:BTC-USD) were his own and not of the agency. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". BitStarz Player Lands $2,459,124 Record Win! It has since raised $4 million as ESG-focused investors flock to its native IMPT token, which is currently available at a price of $0.018. The SEC has already begun cracking down on token staking, with top exchanges like Kraken being forced to cancel their staking services and pay $30M USD in fines. Potentially, this thing could last all the way to the end . The cross-border remittance firm has expansion plans once Ripple puts the lawsuit behind it. This article will discuss the potential implications, Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. Eventually, Bez found himself safe at second, scoring the baserunner on the silliest of errors. If Ripple wins the lawsuit, it will not have to pay out an additional 1.3 billion dollars, allowing it to continue working on projects. In partnership with Mastercard, Latin Americas most popular exchange, Bitso launched a debit card in Mexico offering cryptocurrency rewards on customers purchases. Crypto would not be subject to federal securities laws in the U.S. Policymakers worldwide might follow this decision, providing more flexible terms for crypto regulations across the globe. XRP Price Prediction What Will Happen to Price if Ripple Wins SEC Lawsuit? Our dedicated and motivated global team is here to deliver the highest quality content. This cookie is set by GDPR Cookie Consent plugin. This was highly bullish for XRP, and it was one of the main reasons why it began outperforming the market as a whole about a month or so ago. I thought the good thing about the XRPL is that it does one thing very well payments, the transfer of value. Just the day before yesterday, Ripple CEO Brad Garlinghouse was a guest on Bloomberg, talking about hopes for new talks with the U.S. Securities and Exchange Commission (SEC) once Gary Gensler takes over as chairman. Two words might well decide the regulatory future of cryptocurrency. The panel of experts polled by Finder pegged XRP at $3.81 by the end of 2025 if Ripple wins the suit and $0.98 if it loses. Its up in the air [to be honest], Deaton admitted as he offered an educated guess on how things might go down in the event that XRP is deemed a security. Sources close to the matter revealed Ripples interest in aiding the roll-out of CBDCs for central banks worldwide. The final verdict of the Ripple case will have widespread repercussions on how cryptocurrency is treated and regulated. Broker-neutral technology firm FlexTrade Systems FlexONE solution has once again emerged top among the best buy-side execution management systems. Outcome of SEC v. Therefore, all eyes are on the defendant company as it pushes for the timely deposition of former SEC director William Hinman. By clicking Subscribe, you agree to our Privacy Policy. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Get the latest Crypto & Blockchain News in your inbox. In its early days, Ripple was touted as an attractive option for banks and financial institutions looking to move funds internationally without being bogged down by complicated remittance issues. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The lawsuit could have a positive or negative effect on the price, depending on the outcome. As Millennials and Gen Z become the dominant consumer class, the way payments are made is changing. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. With an expectation of profits: The investor expects profits, meaning that they buy the security in the hope of earning a return on their investment. Although the market has turned south on the XRP token, analysis indicates the price is becoming stable, with an upward trend and a signal for a potential breakout for the token. You see, Bez has no choice but to run to first and nothing that happens on the play matters so long as the out to first is recorded. Unfortunately for blockchain proponents, the Ripple lawsuit may not be a one-and-done situation; that is, a win doesn't mean the SEC will forever ignore cryptocurrencies. Our 3 Top Picks. Officially speaking, the XRP lawsuit refers to a case made by the SEC against Ripple Labs and two of its executives, CEO Brad Garlinghouse and his co-founder Chris Larsen. Binance has continued to remain committed to increasing the adoption and mainstream accessibility of crypto and we are excited to be taking this step in making access to digital assets effortless for more Africans., There is a massive opportunity to provide huge gains in efficiency to wealth management clients due to the failures of existing players in this market.. "It now looks like a resolution will come in 2023 . According to Ripple Labs, the XRP token is not a security. Last month, the SEC and Ripple both submitted motions for summary judgment, meaning both are basically asking the presiding court to come to a decision and end the case rather than go to a full trial. The outcome of the SEC case will have consequences not only for XRP but for BTC, ETH, and the entire crypto community. This cookie is set by GDPR Cookie Consent plugin. Get the latest crypto news delivered to your inbox daily. The decision is expected to have serious consequences for the controversial industry. The SEC can use the money to create a fund that helps reimburse harmed #XRPHolders.. Errors and omissions excepted. Copyright 2023 InvestorPlace Media, LLC. Regardless of the XRP lawsuits result, cryptocurrency regulation needs to be clarified so the industry can progress. If the court decides to rule in favor of Ripple and dismisses the lawsuit, the price of XRP could boost further. The legal battle between Ripple and the SEC began in late 2020, when the regulator filed a lawsuit against the company.

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