XRP UPDATE: SEC Faces Criticism and Legal Setbacks in Crypto Cases #xrpprice

XRP UPDATE: SEC Faces Criticism and Legal Setbacks in Crypto Cases #xrpprice

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take a look at this SEC faces criticism
and legal setbacks in crypto cases
there’s been an exceptionally high level
of criticism directed toward the
Securities and Exchange Commission see
um of the United States of America
chairman jener has been left in utter
disarray as a result of comments and
even Court ruling that are related to
the incompetence biased attitude and
disdain for rules that the agency
possesses the Securities and Exchange
Commission appears to have identified
its scapegoats as the elections in
November get near SC and cryptocurrency
Scandals the SEC has reportedly
experienced significant losses in
cryptocurrency cases and has severed
ties with attorneys Michael Welsh and
Joseph Watkins as stated in the most
recent report which is based on people
who are informed in the matter during
this month the two attorneys who had
been informed that they would be fired
if they did not resign filed their
resignation letters both debt box and
digital licensing were the targets of
their involvement in legal proceedings
in the litigation that debt box was
engaged in the federal district court in
Salt Lake City Robert Shelby leveled
severe criticism against the
organization stating that it lacked
proof and made misleading
representations Shelby took action
against the agency in March imposing
sanctions on them for abusing their
position Additionally the chairman of
the SEC had to issue an apology due to a
series of errors after severely misusing
The Authority entrusted to it by
Congress the most recent ruling which
required the Securities and Exchange
Commission to pay for some of the costs
associated with the action was the final
straw does the pressure on
cryptocurrencies come to an end after
recent events the chief of the
Securities and Exchange Commission
Gerber Gurl who is known for his harsh
words that imply Crackdown on
cryptocurrency issued an apology however
the agency’s biased attitude has not
altered grul stated that the Personnel
would receive training that they would
have a greater degree of caution in this
scenario person AA two of the five
members of the Securities and Exchange
Commission have claimed that their
organization has adopted a deadly stance
towards cryptocurrencies this comes
after the SEC approved an exchange
traded fund or they said that it is
unequivocally evident that the SEC is
attempting to suffocate cryptocurrency
and that this circumstance needs to be
altered at this point the Securities and
Exchange Commission in the process of
identifying scapegoats and it is making
an effort to prevent cryptocurrency
companies from utilizing the most recent
rulings as misuse of office against them
in legal proceedings when an official
from the agency made previous statements
about xrp coin the statements were
deemed to be personal opinions and were
not intended to bind the agency there is
a deadline for the disclosure of
internal cryptocurrency trading policies
for the SEC on August 31 2021 a new
deadline extension mandated that the
Securities and Exchange Commission
disclose its internal regulations
regarding cryptocurrency trading the
purpose of this disclosure was to shed
light on the operations of the SEC and
examine how those actions could
potentially affect the case the deadline
for expert Discovery is the 15th of
October until 2021 the time limit for
expert Discovery was established to
obtain insights from Professionals in
the fields of cryptography and
securities through the use of this
process the goal was to provide further
insight as well as professional
perspectives on the matter the deadline
for the release of confidential
documents has been extended to January
24 2022 the Securities and Exchange
Commission suck has until February 17 to
file an appeal against judge netb bur’s
prior order that Ripple Labs is required
to disclose some confidential government
documents the CSC Ripple submitted their
initial motions for some judgement on
September 17 2022 Ripple labs and the
Securities and Exchange Commission have
both submitted their initial motions for
summary judgment which is a significant
move in the ongoing legal process the
Motions provided a comprehensive account
of the reasons and positions taken by
each of the parties in respect to the
matter the court has approved the
Chamber of digital commerce’s brief on
September 21 2022 the petition to submit
an amicus cury brief that was submitted
by the Chamber of digital Commerce
United States based group that promotes
blockchain technology was reviewed by
the court and approved release of
responses from the CW breel on December
2 2022 the comments that BC and ripple
ABS provided in support of their
applications for summary judgment to be
granted were made available to the
general public after the deadline of
November 30 rebuttal to the petition
submitted by the opposing party were
included in these papers which provided
a deeper knowledge of the legal views
held by the party on December 22 2022
the Securities and Exchange Commission
attempted to prevent the release of
documents related to Hinman the
Securities and Exchange Commission
commission attempted to prevent the
disclosure of the hman documents in the
xrp case as well as any mentions of
those documents in the court filings of
Ripple Labs during the highman documents
Ripple and the SEC engaged in a
comprehensive information exchange
regarding the significance of the papers
and the potential impact they could have
on the case on June 12 2023 the
documents about Heyman were made public
and disclosed to the public after a
protracted legal process the records
owned by William Heyman who had
previously served as the Director of the
Securities and Exchange Commission were
finally open and made available to the
public the legal struggle was given a
new dimension by the inclusion of these
documents which had the potential to be
significant in the xrpc case on the 13th
of July 2023 the court granted Ripple
Labs a favorable ruling a victory for
the cryptocurrency industry over the
United States government Regulators was
achieved when Tores ruled in favor of
Ripple finding that the company did not
violate the law by selling xrp on public
exchanges Ripple on the other hand was
determined to violate securi rules
whenever it’s sold to institutional
customers the motion for an appeal from
the SEC was granted by judge Torres on
August 15 20123 and a notice of
appearance was submitted for the
investment banker declarant the SE is
until the 18 of August 2023 to file
their appeal with the court at the
deadline in its response to the appeal
Ripple stated on September 1 2023 that
the Securities and Exchange Commission
did not possess any valid Legal
Foundation for a successful or relevant
decision deadline for the Securities and
Exchange Commission to submit its
response is September 8th 2023 on
October 3 2023 judge Torres denied the
petition for an interlocutory appeal
that was submitted by the security an
Exchange Commission C because it did not
meet the requirements for unusual
circumstances the branch of Ripple that
is located in Singapore was granted a
license to conduct its business within
the country on October 4
2023 xrp’s trade volume nearly doubled
in the past several days the charges
that were brought against the individual
defendants garlinghouse and Larson were
dropped by the Securities and Exchange
Commission on October 23 2023 with the
permission of of Judge Tories the
Securities and Exchange Commission has
requested that the time frames for
briefings be changed the agency’s
opening brief is due on March 22 2024
Ripple’s opposition brief is due on
April 22 2024 and the Ci’s reply brief
is due on May 6 2024 on March 25 2024
the Securities and Exchange Commission
commission filed a request for judgment
requesting that Ripple pay fines
totaling over $2 billion dollar on the
22nd of April 2024 Ripple Labs presented
its protest expressing its disagreement
with the sec’s request for fines
amounting to over $2 billion and off
offered to pay a fee of $10 million
instead on the 23rd and 24th of April

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Telegram: @cryptoreport2

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