Ripple vs SEC Update: New Class Action Adds to Legal Tangle with SEC, XRP Status At Stake

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Ripple vs SEC Update: New Class Action Adds to Legal Tangle with SEC, XRP Status At Stake
Author: Qadir AK

Feb 27, 2024 12:01
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Ripple Vs. SEC
The year 2024 seems to be leaving the league for Ripple after losing its stance in the discovery phase with the SEC; Ripple is in another legal scoop with California regulators.

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Ripple’s Political Chessboard: Senators vs. State Prosecutors
Ripple Labs Inc., CEO Brad Garlinghouse, and its subsidiary XRP II, LLC, are facing a fresh legal battle in California, where it’s being sued for allegedly selling XRP without the required registration and violating securities laws. However, Ripple denied such claims.

The lawsuit, filed in the Northern District of California, accuses Ripple of flouting federal and state securities laws by offering and selling XRP without proper registration. The plaintiffs seek to represent two groups: the Federal Securities Claims Class and the California State Securities Claims Class, comprising individuals and entities who bought XRP between July 3, 2017, and June 30, 2023.

In response to the motion, Ripple rebuffed these allegations, arguing that XRP isn’t a security and thus doesn’t require registration.

Unfortunately, this regulatory lawsuit puts Ripple on a tightrope, so far Ripple got the backing of many senators and legislative support but the California case may complicate its winning path with the SEC. Ripple argues that XRP isn’t a security but a digital currency for global transactions. The case’s outcome could shape how U.S. regulators treat digital assets, affecting the entire cryptocurrency market.

Investor Dilemma: To Opt Out or Not?
As per the new class action, those impacted by the lawsuit have until April 5 to choose whether to opt-out and pursue separate legal actions against Ripple. This choice highlights the significant consequences of the lawsuit for both Ripple and stakeholders in the digital currency market.

Meanwhile, Ripple’s legal woes extend beyond this class action lawsuit as it grapples with a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) in December 2020. The SEC alleges that Ripple conducted an unregistered securities offering of $1.3 billion through XRP sales.

Regulatory Mess Continues…
Recent developments, such as the motion filed by digital asset exchange Kraken to dismiss the SEC lawsuit, further complicate the regulatory landscape. Kraken’s motion references a ruling by Judge Torres regarding programmatic sales, highlighting legal strategies employed by investors and traders to address regulatory scrutiny. Overall, Ripple’s extended legal battles highlight the cryptocurrency industry’s regulatory uncertainties and underscore the need for clear policies governing digital assets.

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Press Release
TRX Solid Monthly Gains See Aggressive Buys in Pushd (PUSHD) for Bigger Gains Post USDC Whale Investment
Author: PR Manager

Feb 27, 2024 13:04
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Depending on their priorities, investors make decisions based on anticipated returns. For many investors, the attractiveness of any project comes down to how much they can expect to gain from it. Other factors do come into play, but more often, investment decisions are based on predicted ROI.

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While investors expect very little returns from stablecoins like USDC (USDC), tokens like Tron (TRX) are exciting because of their predicted trajectory – up to 4x according to analysts. However, the best altcoin for investors seeking high returns seems to be Pushd (PUSHD), a web3 store. How much do analysts think it could grow and why?

Tron (TRX) to close February at $0.14

Tron (TRX) is set to close yet another month with big gains. From its $0.108 position at the start of the year, Tron (TRX) ended January around $0.1128. These gains were good for Tron (TRX) holders but look to be even better in February.

Tron (TRX) is worth $0.1374 at press time, already 23% better than it was at this point last month. Moderate growth is still expected in the final days of the month, which could see Tron (TRX) enter March at $0.14.

USDC (USDC) ditches Tron (TRX), integrates Celo

Circle’s stablecoin, USDC (USDC) has battled its way up the ladder and now stands close to the top. However, with more scrutiny and regulation being aimed at stablecoins recently, USDC (USDC) has been treading carefully.

One such move is Circle ending support for USDC (USDC) on the Tron (TRX) network. Instead, USDC (USDC) has now launched on the Celo blockchain, leading to more traffic there. While USDC (USDC) remains a great option among stablecoins, it fails to be anything more.

Pushd (PUSHD) takes profits from Tron (TRX), whale investment from USDC (USDC)

It isn’t rare to see crypto investors use profits from one token to buy another. Apart from diversifying their portfolio, it allows them to benefit from other tokens without providing new capital. Right now, positive movements within Tron (TRX) are increasing confidence in the token but also causing token holders to consider other tokens like Pushd (PUSHD).

But Tron (TRX) holders are not the only investors that are going for Pushd (PUSHD). A USDC (USDC) whale has reportedly invested significantly in Pushd (PUSHD) in the last week, taking advantage of its low presale price to buy much of the token. Many other investors have either bought Pushd (PUSHD) or are making plans to, but what’s their reason?

Pushd (PUSHD) goes for $0.11 in its presale, which is part of why investors like it. Low-cost investments with high return potential are always sought for by investors. It also rewards presale investors in proportion to their holdings.

This wave of investors joining Pushd (PUSHD) signals that it is a serious contender in the market. Its current attractiveness is likely to increase after launch as would its price, so this is the best time to get it. Pushd (PUSHD) has experienced investors excited for its possible returns and they seem to be on the right path.

Find out more about the Pushd (PUSHD) presale by visiting the website here.

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This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.

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Ripple Vs. SEC
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