According to recent reports, the U.S. Securities and Exchange Commission (SEC) is close to concluding its case against Ripple. This case has garnered significant attention within the cryptocurrency community.
Progress of the Ripple Case
The legal battle against Ripple started with a ruling by Judge Analisa Torres last August, fining the company $125 million. However, the sales of XRP tokens to retail investors were not considered illegal.
SEC's Stance
Following the departure of former Chair Gary Genser, the SEC has been revisiting its cryptocurrency policy. Major firms like Coinbase and Kraken have been spared from sanctions, while investigations against Uniswap Labs and Robinhood Crypto were dropped.
Ripple's Position
Ripple contends that it should not face penalties as it has not violated any regulations. Negotiations are ongoing for more favorable terms, delaying the final decision.
Considering the current negotiation dynamics and changes in SEC policy, the outcome of the Ripple case may significantly impact the entire cryptocurrency industry.
