New Development in SEC Ripple (XRP) Case!

SEC with Ripple (XRP) The legal battle continues. market and XRP While investors were anxiously awaiting when the case would end, an important development took place regarding the case.

In the past few weeks, the world’s leading Blockchain one of the trade organizations Digital Chamber of Commerce (CDC) He had requested to join the Ripple-SEC lawsuit, which turned into the snake story.

This request of the Digital Chamber of Commerce was approved by the court.

This request of the Digital Chamber of Commerce was granted by court judge Analisa Torres on September 21.

CDC litigation “court friendly” status will be. This status allows the persons involved in the case to assist the court in matters in which they have knowledge and expertise.

The court has given the CDC until September 26 to brief it on the case.

The SEC reacted to this application of the Digital Chamber of Commerce. The SEC said it could seek more time from the court if more additional intervention requests, such as the CDC, are allowed.

Perianne Boring, President of the Digital Chamber of Commerce, said in a statement:

“A clear and consistent set of rules is needed for the burgeoning cryptocurrency industry.

In this context, in the Ripple-SEC case, which has not been concluded for a long time, a common denominator must now be reached and a decision that will be positive for the crypto industry must be reached.”

XRP lawsuit filed by the SEC in 2020. Ripple Labs and managers Brad Garlinghouse and Christian Larsenopened against.

SEC defendants over $1.38 billion XRP claims to be selling its token as an unregistered security.

The outcome of this lawsuit is both the crypto market and XRP eagerly awaited by investors. Because the outcome of this lawsuit can determine whether XRP is a security or not.

If the court decides in favor of the SEC, it could cause the SEC to take legal action against other crypto projects that sell tokens similar to Ripple.