SEC Will Fine Ripple IDR 31.5 Trillion Related to Crypto Cases

Liputan6.com, Jakarta – CEO of crypto company Ripple Labs Inc, Brad Garlinghouse said in crypto XRP Coin.

Reporting from Yahoo Finance, Wednesday (27/3/2024), the regulator is scheduled to release a public report on Tuesday, the head of Ripple's legal department. Stuart Alderoty said in a separate post on X that the company would file a reply next month.

The SEC sued Ripple in 2020, claiming the company violated its rules when it raised money by selling digital tokens without registering them as collateral.

The case is being closely watched by crypto enthusiasts due to its implications for the SEC's purview. In what many saw as a loss of the agency's jurisdiction, a federal judge in July ruled the sale of XRP to retail investors on exchanges did not comply with investment contracts.

Regarding the update on this case, it is a sentiment that investors need to pay close attention to because it has attracted great interest from crypto fans and the XRP community. There is a possibility that the altcoin XRP will be more volatile this week, and if the results are positive it will increase the price of XRP.

Ripple CEO's recent comments indicating Ethereum's potential legal victory over the US SEC similar to XRP's success have sparked market discussion.

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