The U.S. Securities and Exchange Commission (SEC) has accused Ripple of engaging in practices similar to past violations, in response to Ripple’s recent filings related to the Terraform Labs Consent Judgment. The court currently lacks comprehensive records to determine if Ripple’s ongoing On-Demand Liquidity (ODL) sales violate existing regulations.
This adds complexity to the ongoing legal dispute between Ripple and the SEC. Legal experts predict that the final judgment could come in July, with the SEC possibly appealing Judge Torres’s ruling that XRP programmatic sales are not security contracts. The SEC is arguing for $2 billion in fines, whereas Ripple believes the penalty should not exceed $10 million.
The uncertainty surrounding the lawsuit has negatively impacted XRP’s market performance, with the price dipping by 0.43% to $0.4759. Despite the ongoing legal challenges, the outcome of this case could set a significant precedent for the regulation of digital assets.
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