An
attorney
has
provided
insights
on
the

impending
court
judgment

from
the
United
States
Securities
and
Exchange
Commission
(SEC)
concerning
its
lawsuit
against
Ripple.
As
the

legal
battle

finally
appears
to
be
approaching
its
end,
the
attorney
has
outlined
how
the
potential
judgements
could
impact
Ripple’s
reputation
and
digital
asset
operations
in
the
United
States
(US). 

Impending
SEC
Judgements
For
Ripple

Fred
Rispoli,
the
founder
of
HODL
law,
was
recently
featured
in
a

YouTube
video

hosted
on
the
Thinking
Crypto
podcast,
by
Tony
Edward.
When
asked
if
the

judgement
against
Ripple

would
involve
penalties
for
institutional
sales
of
XRP,
Rispoli
confirmed
that
Ripple
would
indeed
be
mandated
to
pay
a
specified
amount
in
fines.  

 

He
disclosed
that
the
penalty
would
not
be
as
severe
as
the

SEC’s
initial
$2
billion
fine

for
selling
XRP
to
institutional
investors.
However,
he
also
acknowledged
that
a
$2
billion
penalty
fee
would
be
challenging
and
detrimental
for
the
crypto
firm
but
not
fatal
to
the
company. 

Rispoli
has
predicted
that
the

SEC’s
judgment

will
most
likely
be
under
$25
million,
accompanied
by
a
penalty
as
opposed
to

disgorgement.
He
added
that
the
most
important
aspect
of
the
forthcoming
judgment
would
be
Ripple’s
injunction
and
the
potential
restrictions
placed
on
the
company.
According
to
the
attorney,
these
injunction
terms
would
hold
considerable
significance
for

Ripple’s
future
operations

and
financial
interests. 

The
HODL
law
founder
also
disclosed
that
the
SEC
desires
a
“broad
sweeping
injunction”
for
Ripple.
He
highlighted
that
the
regulator
had
written
in
their
proposed
order
last
year, 
to
restrict
its
ability
to
execute
any
activities
that
could
be
remotely
ruled
as
unregistered
securities
transactions. 

However,
Rispoli
has
revealed
that
the
Judge
would
most
likely
avoid
any
new
cases
the
SEC
brings
up
that
have
no
litigation.
He
emphasized
that
when
a
government
entity
like
the
US
SEC
is
involved
in
a
lawsuit
they
typically
have
60
days
to

 

file
a
notice
of
appeal

instead
of
the
standard
30
days.
Once
Ripple’s
judgment
has
been
confirmed,
the
SEC
will
have
exactly
60
days
to
decide
on
whether
they
will
appeal.  

Future
Implications
Of
Legal
Battle

While
speaking
on
the
outcome
of
the
legal
case
between
Ripple
and
the
SEC,
Rispoli
disclosed
that
Ripple
may
have
to

push
their
operations
outside
of
the
US

if
the
outcome
of
the
lawsuit
becomes
detrimental.
He
highlighted
that
this
would
be
a
massive
blow
to
the
US
economy,
given
the
firm’s
status
as
a
leading
crypto
payments
company
and
its
future
goals
to
become
a
global
alternative
to
the

SWIFT
network.

He
also
disclosed
that
Ripple’s
plans
for
an
Initial
Public
Offering
(IPO)
may
be
hindered
or
delayed
by
the
SEC.
Additionally,
the
company’s

 

launch
of
a
stablecoin

in
the
future
could
be
seen
as
a
security,
given
the

SEC’s
anti-crypto
stance.

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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