shocking news xrp has failed case against sec xrp to zero dollars one xrp a digital asset
that is being indirectly considered as part of the ongoing sec lawsuit against ripple is the fourth
cryptocurrency by market capitalization excluding stable coins after bitcoin ethereum and binance
coin welcome to the rich club channel if you like this video don't forget to like it and subscribe
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giving away 500 xrp at the end of the week one random subscriber will receive xrp coins
take a look at the instructions in the comments section all you need to do is write the word xrp
watch the video to the end to like and subscribe previously the coin occupied a higher place
only below bitcoin but a lot has changed since then in 2018 the then sec director of corporate
finance william hinman made a famous speech in which he stated that ethereum and bitcoin are
not securities the digital asset space craved and still craves regulatory clarity and this speech
provided enough opportunities for government agencies to act with a small amount of information
available which clearly paved the way for the insane growth of eth three years later it turned
out that hinman's speech was only his personal opinion or so the sec and the ex official claim
the securities and exchange commission wants its internal documents related to the speech not to be
disclosed which led the sec to change its tone and say the speech was part of the regulatory
body's public guidance and only judge annalisa torres should make decisions and judge about it
meanwhile the sec is also trying to argue that internal sec documents have become irrelevant to
the case after the court rejected the petition of individual defendants to dismiss the case
ripple's lawyer seems to be getting increasingly tired of the sec's proposals to postpone the
review the company wants to introduce a simplified trial scheduled by mid-may to complete this case
embroiled in a lawsuit the blockchain giant cannot successfully realize its potential
its flagship products ripple net and on-demand liquidity are expected to accelerate distribution
after the trial ends the same goes for the central bank's digital asset solution
cbdc on top of everything else the long-desired plan for the placement of shares through an
initial public offering of shares will remain a mirage until a settlement agreement or a court
decision is reached like ripple xrp is expected to a better day soon as its price is linked to
the introduction of the ripple network natalia zakharova head of business development at retail
and institutional forex broker fx open expressed a rather optimistic opinion for xrp blockchain-based
protocols such as ripple provide the financial world with so much flexibility that it is unlikely
that any institutional partner will deal with this issue after the trial is completed and or
a settlement is reached most of the institutional partners who have started using tokenized methods
such as xrp understand the modern digital economy very well and probably think that xrp will be
here and this type of structure will continue to grow exponentially whereas the traditional system
including what the sec based its entire existence on will continue to be in her shadow it's just
evolution in progress therefore market demand and infrastructure development are likely to continue
as soon as everything is over and this is eliminated the case will go forward and
up in accordance with the resolution of january 13 2022 on the privilege of the consultative process
dpp the securities and exchange commission david schwartz confirmed after the end of
the trial xrp to 75 thousand dollars about meetings between third parties of the agency
according to the sec the handwritten parts of the documents she plans to edit are protected by the
consultative process privilege dpp the handwritten fragments in question directly reflect either one
the author's thoughts on the issues discussed at the meetings and or two discussions among
sec employees during the meetings the excerpts from the proposal say the sec noted that it is
for the aforementioned reason that it respectfully asks the court to allow the proposed corrections
some of the suggested revisions include valerie skipanix notes on the february 2014 meeting
michael seaman's notes on the april 2018 meeting and jonathan ingram's notes on the same meeting
the decision to grant or reject the sec's request for editing will be left to the discretion of
judge sarah netburn on january 13 2022 the court order partially granted and partially rejected the
petition of ripple and individual defendants brad garlinghouse and chris larson to compel
the sec to provide documents that according to the plaintiff are protected by the dpp
despite the dpp's recognition the court noted that it would determine whether disclosure of important
documents is appropriate based on the relevance of the documents that need to be protected the u s
federal court granted the securities and exchange commission's request to extend the deadline for
the parties to set a disclosure schedule for individual defendants chris larson and brad
garlinghouse the date has been moved from march 23rd to april eighth twenty twenty two the court's
decision was communicated to the parties in the form of a text posted on twitter by lawyer james k
fillin which read the sec must inform the court of its position as to whether any additional
discovery is required within a week of the filing of the individual defendant's response hashtag
xrp community hashtag secga v ripple hashtag xrp the sec's request for an extension of time
was granted in a text only order it stated the sec shall inform the court of its position on whether
any additional discovery is required within a week of the filing of the individual defendants
the parties are invited to meet and discuss the briefing schedule for applications for summary
judgment the parties must submit a joint proposed schedule for court approval no later than one week
after the sec submission thus it appears that the response of individual respondents should
be submitted on april 8 2022 the sec's position on the additional discovery is due on april fifteenth
twenty twenty two and a joint proposed case review order is due on april twenty second twenty twenty
two it is worth noting that regardless of the deadline set for the above mentioned events the
response of individual defendants to complaints from the securities and exchange commission will
be the main factor determining the deadline for both the position of the securities and exchange
commission regarding additional disclosure of information and for the joint proposed order to
review cases for example if individual defendants provide responses to the sec's request on april 1
2022 the deadline for submitting a position to the securities and exchange commission
regarding additional disclosure will be postponed to april twenty twenty two and
a joint proposed scheduling order will be issued on april fifteenth twenty twenty two
as reported the sec had previously requested a one week extension to be able to propose a disclosure
schedule for individual defendants ripple rejected this claim industry players accused the agency of
using delaying tactics to upset the defendant undeterred by the sec's delaying tactics ripple
enthusiasts still believe that the outcome of the lawsuit will be in favor of the blockchain
company the live xrp price today is zero dollars 88 u.s dollars with a 24-hour trading volume of 3
billion 740 million us dollars we update our xrp to usd price in real time xrp is down zero four
percent in the last 24 hours do you think xrp will be able to win the court and restore its
former price write the answers in the comments that's it for today thank you for watching this
video to the end if you liked it then don't forget to like it and subscribe to the channel