October 3, 2022

SHSU Houstonian Online

Read all latest news headlines from USA, UK and around the world, get today's breaking news and live updates on politics, elections, business, sports, economy,​ …

Ripple scores biggest win ever in SEC lawsuit

Ripple scores biggest win ever in SEC lawsuit

Ripple scored a big win yesterday. US District Judge Analisa Torres rejected the Securities and Exchange Commission’s request to remove Ripple’s fair notification defense. After the decision was made, the price of XRP immediately rose by more than 10%.


Ripple achieves a very important victory

The Securities and Exchange Commission (SEC) filed a request last April to drop Ripple’s fair notification defense. The fair notice defense will compel the Securities and Exchange Commission to release information about the FSA’s communications since 2013. For clarity, we explain below what the fair notice defense entails.

The fair notice defense focuses on whether Ripple has received a fair notice from the SEC on whether the sale of XRP tokens is an illegal sale of securities(s). According to Ripple, the SEC has been aware of the selling plan for a long time and has never stopped Ripple. So they never received fair notice from the SEC that what they were doing was illegal. Years and years later, the SEC suddenly filed a lawsuit.

The SEC wanted to block this defense, but the judge has now put an end to it. This could be very positive for Ripple.