Big News For XRP: Two SEC Sources Make Top Revelation About Ripple Case

According to recent reports from industry sources, the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) appears to be approaching its final stages.

Crypto analyst Andrew (@AP_Abacus) shared an update stating that “two SEC sources believe [the] @Ripple case is very close to ending.” This suggests a resolution may be imminent, bringing long-awaited regulatory clarity to XRP holders.

Potential Commodity Classification for XRP

One of the most significant revelations from Andrew’s report is the expectation that “XRP [will] get serious commodity consideration.” This implies that XRP could be viewed similarly to assets like Bitcoin, which falls under the Commodity Futures Trading Commission’s (CFTC) oversight rather than being classified as a security.

If confirmed, this distinction would be a major regulatory development, potentially alleviating concerns surrounding XRP’s compliance status in the United States.

Significantly Reduced Fine for Ripple

Another key takeaway from the report is the potential for a dramatically reduced penalty against Ripple. Andrew said a “greatly reduced fine; GREATLY reduced” is expected. This aligns with arguments made by Ripple’s legal team, which has pushed for a reconsideration of the penalties originally sought by the SEC.

If the fine is significantly lowered, it could signal a shift in how the SEC approaches crypto-related enforcement actions, particularly under its new leadership.

Impact of SEC Leadership Changes

The report also emphasized the role of new leadership within the SEC, stating that “new leadership knows this case and how they handle it is a big deal; precedent.”

This suggests that the individuals overseeing the case recognize its broader implications for the crypto industry. How the SEC handles the resolution could set a legal precedent for future regulatory actions against other blockchain firms.

Crypto Community Reacts to the Report

The credibility of the report has sparked debate within the crypto community. Crypto analyst Cryptoinsightuk shared Andrew’s update, calling it a “nice update to wake up to”

In response to a user who questioned the source’s reliability, Cryptoinsightuk responded, “Normally he’s a hater so although not credible I don’t think he’d share if it wasn’t true.” This suggests a belief that while the source may not typically be supportive of XRP, the information could still hold merit.

Previous Reports Align with New Claims

This latest development follows an earlier report by Fox Business journalist Eleanor Terrett, who cited “two well-placed sources” stating that the Ripple case was nearing its conclusion. As reported in a previous Times Tabloid article, Terrett noted that the remaining obstacle is ongoing negotiations.

According to her, Ripple’s legal team argues that the SEC’s evolving stance on crypto enforcement should lead to a reconsideration of its case. The team contends that maintaining the original ruling against Ripple would be inconsistent with the agency’s current approach to other cryptocurrency firms.

What’s Next for XRP and Ripple?

While there is no official statement, reports from multiple sources suggest that a resolution may be imminent. If XRP is considered a commodity and Ripple receives a significantly reduced fine, there could be a turning point for the cryptocurrency’s regulatory standing.

Such an outcome could also influence the broader digital asset market by setting a precedent for how regulators handle similar cases.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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