Ripple’s international XRP and On-Demand Liquidity (ODL) sales remain unaffected by the recent court ruling. Judge Analisa Torres rejected the SEC’s proposed rules for regulating ODL sales. Following this favorable decision, XRP’s price surged 27% to $0.63.
Ripple’s ongoing legal battle with the SEC has created significant buzz in the crypto industry. Many investors and analysts are concerned about how these rulings will impact Ripple’s core operations. However, legal expert Jeremy Hogan suggests that Ripple’s business operations may continue largely unaffected. Let’s delve into the details of this situation.
Ripple’s Global Sales Remain Unaffected by Court Ruling
In a recent tweet, legal expert Jeremy Hogan emphasized that most of Ripple’s XRP and On-Demand Liquidity (ODL) sales occur outside of U.S. jurisdiction. Consequently, these transactions remain unaffected by the court’s ruling, allowing Ripple to maintain its international operations without interruption.
Hogan also noted that Ripple can continue selling XRP to U.S. institutions under specific registration exemptions. These exemptions enable Ripple to meet regulatory requirements while conducting business with U.S. companies.
Judge’s Ruling and Ripple’s Preparedness for ODL Sales
Judge Analisa Torres’s recent decision did not grant the SEC the specific language it sought regarding On-Demand Liquidity (ODL) sales. If the SEC believes Ripple has violated the order, it would need to provide evidence in a contempt hearing.
Jeremy Hogan believes Ripple could argue that if XRP is held briefly, there is no expectation of profit, which could serve as a strong defense. Ripple’s legal team has had time to adjust its sales practices following the summary judgment. Hogan suggests that any potential compliance issues would likely arise only if the SEC files a contempt motion, which Ripple is prepared to address.
Despite these challenges, Hogan’s analysis indicates that Ripple is well-positioned to continue its ODL sales with minimal disruption.
Ripple’s Court Victory and Impact on XRP Price
Ripple recently achieved a major court victory when XRP was ruled not to be a security, a significant win for the company. Despite this, Ripple still faces a $125 million civil penalty, though this is a substantial reduction from the $2 billion originally sought by the SEC. Judge Torres determined that while some of Ripple’s XRP sales were unregistered securities offerings, XRP itself is not classified as a security.
In response to this favorable ruling, XRP’s price surged by approximately 27%, reaching $0.63. This price jump reflects a positive market reaction to the court’s decision.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Â
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Join our official TG Channel: https://t.me/CryptosHeadlines
