XRP News: Legal Expert Says SEC’s Latest Appeal Has Nothing To Do With $125 Million Penalty
The post XRP News: Legal Expert Says SEC’s Latest Appeal Has Nothing To Do With $125 Million Penalty appeared first on Coinpedia Fintech News
Ripple has come a long way since its early days when reaching $1 seemed impossible. Now, with XRP surging past $1, some are even predicting that it could reach previous ATHs at $3.30. While this may sound far-fetched, recent rumors of SEC Chair Gary Gensler’s resignation and Ripple’s potential victory in its legal battle with the SEC have fueled speculation that XRP’s future could be brighter than ever.
Although Gensler’s resignation is still unconfirmed, the mere rumor has sparked a wave of optimism across the crypto space, with many hoping it signals a shift in the SEC’s stance on digital assets. If true, it could open the door to greater adoption and investment in Ripple’s XRP. As the momentum continues to build, many are now watching closely to see if this rally is just the beginning of something much bigger for XRP.
Amid the uncertainty, one user claimed that the only remaining issue in the case is the settlement fee, with the SEC seeking more than $125 million. The user also claimed that XRP has already won the key point: it was ruled not to be a security.
But former SEC lawyer Marc Fagel disagreed, saying this view is inaccurate. He explained that the appeal isn’t about a “settlement fee,” as there’s no such thing. Instead, the SEC is appealing the ruling on programmatic sales, while Ripple is cross-appealing the decision on institutional sales.
Fagel wrote, “That’s not remotely accurate, sorry; the appeal has nothing to do with the penalty (there’s no such thing as a “settlement fee”). The SEC is appealing the liability finding for programmatic sales; Ripple is cross-appealing liability for institutional sales.”
