Reportedly, Ripple’s legal team is trying its best to negotiate the XRP lawsuit in its favour. The negotiation process is causing a delay in seeing the final conclusion.
Summary
- Ripple legal representatives negotiating in the $XRP lawsuit for a favourable conclusion.
- Ripple firm secured a payment license in Dubai.
Ripple vs SEC Legal Fight History
Ripple is a San Francisco headquartered blockchain firm. This firm provides $XRP cryptocurrency-backed cross-border payment services for big & small businesses. In Dec 2020, Ripple faced a lawsuit by the US Securities and Exchange Commission (SEC) over the use of $XRP. Through the lawsuit, the SEC body called $XRP an unregistered security token & also charged Ripple executives for the sale of $1.3 billion worth of $XRP coin publicly. In the legal fight, Ripple firm secured significant favour from the court judges, as the SEC body failed to provide proper evidence & facts to prove the charges.
In August 2024, the U.S. District Court for the Southern District of New York ruled $XRP a non-security token, providing clarity for retail $XRP coin investors & holders. However, the court clearly stated that Ripple’s direct sales of XRP to institutional investors constituted securities transactions, leading to a $125 million civil penalty.
Latest Development in the Case
On 12 March 2025, Fox Business reporter Eleanor Terrett shared the latest development around the Ripple vs SEC case, on behalf of a well-placed source.
Information shared by the source claimed that the Ripple legal team intentionally delayed the case to reach a favourable conclusion.
According to Eleanor, the Ripple legal representatives noted that the SEC body changed its stance & shut down its enforcement actions against crypto companies, so the Ripple team tried to negotiate to reduce the $125 million fine.
The Bitcoinik.com readers need to know that any type of conclusion around the Ripple vs SEC legal fight will not bring any type of benefit for the $XRP coin, as already $XRP is considered a non-security token by the court judges.
But it will be interesting to see the outcome of this legal fight, as the SEC body failed to get/deliver any kind of conclusion from this case.
Ripple Secures Payment License in Dubai
Today Ripple firm announced that the company successfully secured regulatory approval from the Dubai Financial Services Authority (DFSA).
This legal approval allows this San Francisco headquartered blockchain firm to provide fully regulated cryptocurrency payment services in the jurisdiction of the UAE. It is worth it to note that DFSA approval for Ripple underscored a first-ever event for any blockchain payment provider.
This development is obviously going to inject a significant level of bull sentiments around $XRP Cryptocurrency, as it will increase the use of $XRP coin.
$XRP Coin Price Action
The current trade price of $XRP coin, a token on XRP Ledger (XRPL), is $2.3 & this price level is 6.2% high over the last 24 hours trading period.
Read also: Pi Network To Unlock 188 Million Tokens, Big crash is coming?
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