The court announced the date of the first court hearings between the SEC and Ripple
The date of the first court hearings has become known
The trial will be held in the format of a telephone call
American regulator claims Ripple enriched itself through XRP sale for $ 1.3 billion
International consortium of news organizations developing transparency standards.
The Southern District Court of New York has set a date for the first court hearing between the US Securities and Exchange Commission (SEC) and Ripple. According to the decree, all parties must appear at the preliminary pre-trial hearing on February 22, 2021 (at 18:00 Moscow time).
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The process will take place over the phone. It is then expected that the judge can set a preliminary date for the hearing. The cryptocurrency community was skeptical about the seriousness of the upcoming meeting due to the chosen format:
“Not even a zoom, but a“ telephone ”call? And they [SEC] want to fine [Ripple] $ 1.5 billion? Maybe they can’t afford to [absorb] the zoom? ”Wrote a user under the nickname attila59.
The regulator’s accusations have already led to the fact that the price of XRP in the XRP / USDT pair fell from $ 0.58 to $ 0.20.
The upcoming litigation between the American regulator and the fintech company created a stir in the cryptocurrency market. BeInCrypto’s editors reported that more than 12 companies have already refused to support XRP in one form or another.
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Recall that in mid-December, the SEC filed a lawsuit against Ripple, accusing the company and its management of selling unregistered securities under the guise of XRP tokens.
According to the SEC, starting in 2013, Ripple was able to sell XRP tokens in the amount of $ 1.3 billion. Ripple said that through a lawsuit, the American regulator brought only uncertainty to the crypto market, “actively harming the community that they should protect.”.
The company has assured that it will continue to support all products and customers in the United States and around the world.
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