The US Securities and Exchange Commission (SEC) is set to hold a closed-door meeting next week to discuss important issues. These include starting and settling legal actions, resolving litigation claims, and enforcement proceedings.
This meeting has sparked speculation about its potential impact on Ripple, Binance, and the broader crypto market.
US SEC Meetings Spark Speculation on Ripple and Crypto Market
The US SEC recently held a closed-door meeting on Thursday, July 11, as part of its routine discussions on key matters. However, another meeting scheduled for July 18 has generated significant buzz in the crypto community. This speculation follows the recent decision in the Binance lawsuit and the pending ruling in the Ripple vs. SEC lawsuit.
The back-to-back meetings have led to rumors about their potential impact on Binance, Ripple, and the broader crypto market. Many believe the upcoming meeting may focus on either resolving injunction claims or reaching a settlement with Ripple. Market participants are closely watching for any developments or outcomes from the meeting.
According to the SEC’s announcement, the meeting on July 18 will be attended by Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries. The meeting’s agenda includes:
- Institution and settlement of injunctive actions
- Institution and settlement of administrative proceedings
- Resolution of litigation claims
- Other matters related to examinations and enforcement proceedings
Typically, SEC officials discuss these topics unless there is a change in the meeting agenda published in the Federal Register.
Binance Win Boosts Ripple and Coinbase Amid SEC Battles
Binance recently secured a significant legal victory, even though most arguments are still scheduled for further hearings. The SEC was unable to prove that BNB’s secondary sales were securities, which has provided legal support for Coinbase and Ripple. Both companies are now using this ruling to challenge the US SEC’s regulatory stance on cryptocurrency.
As the crypto market eagerly awaits Judge Torres’ final judgment on penalties and injunctions, Ripple reflects on the anniversary of its landmark summary judgment. Despite the ongoing legal battles, Ripple’s lawyers and executives do not believe a settlement with the SEC is likely.
Meanwhile, the price of XRP has surged 18% this week, with lawyers, including Fred Rispoli, anticipating a verdict to be delivered this month.
Important: 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.
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