Tag: Ripple

Mastercard Partners With Ripple, XRP Dips Below Pre-SEC Ruling

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In a significant move signaling the growing importance of Central Bank Digital Currencies (CBDCs) in global financial systems, Mastercard has announced a strategic partnership with several blockchain companies, including Ripple. Meanwhile, the XRP price took a nosedive in the past 24 hours, falling 14.3% amidst the marketwide downturn. Ripple Partners With Mastercard Unveiling its CBDC Partner Program, Mastercard emphasized its intent to work with leading figures in the CBDC ecosystem. The objective: to offer central banks a comprehensive understanding of CBDCs and their potential for redefining the future monetary systems.…

SEC Can Argue for Right to Appeal Groundbreaking XRP Ruling in Ripple Case, Judge Says

“The legal standard is a difficult one to satisfy, and the particulars of this case also do not help SEC’s argument in favor of appeal. In fact, the SEC itself has undermined its current arguments for an appeal by previously indicating that a decision in Ripple does not really bear on any other crypto securities lawsuit. It’s unlikely that the court will be persuaded by them speaking out of both sides of their mouth,” he said. “And even if Judge Torres does grant their motion, they then have another steep…

Judge grants SEC request to file motion for appeal in Ripple case

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Judge Analisa Torres has granted a request from the United States Securities and Exchange Commission (SEC) to leave to file an interlocutory appeal in its case against Ripple Labs. The securities regulator sent a letter to Torres on Aug. 9, saying her decision could affect multiple pending court cases.  According to United States laws, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding.  The decision allows the SEC to build and bring a case to the U.S. Court…

Ripple Labs bites back against SEC’s request to file appeal

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Ripple Labs has voiced its opposition towards the United States securities regulator’s move towards filing an interlocutory appeal relating to the summary judgment laid down by U.S. District Court Judge Analisa Torres on Jul. 13. In an Aug. 16 letter to Torres of the Southern District of New York, Ripple’s lawyers explained that because the Securities and Exchange Commission failed to satisfy elements of the Howey test relating to Ripple’s distribution of XRP — a “legal question” — the court should reject the SEC’s motion for leave to file an interlocutory…

SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case

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Top Stories This Week Judge revokes Sam Bankman-Fried’s bail, remands him to custody FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s bail and remanded him to custody, likely at the Putnam County Correctional Facility. Once his October trial begins, he could be moved to the Metropolitan Detention Center in Brooklyn. Bankman-Fried was reportedly led out of…

Ripple joins forces with BIS in cross-border payments initiative

The Bank for International Settlements (BIS) has introduced a cross-border payments interoperability and extension (PIE) task force, with Ripple, the blockchain-based digital payment network, being one of its notable participants. XRP, a cryptocurrency used by Ripple in its On-Demand Liquidity (ODL) solution, was recently classified as not a security. The BIS, an international financial institution owned by member central banks, released a summary of the PIE task force’s meeting on May 11, which outlines the task force’s commitment to enhancing cross-border payments and achieving the quantitative goals established by the G20 in…

Ripple joins BIS cross-border payments task force

The Bank for International Settlements (BIS) has recently announced a cross-border payments interoperability and extension (PIE) task force which includes the blockchain-based digital payment network, Ripple.  On Aug. 9, BIS announced the members of the PIE task force that will work to “enhance cross-border payments and meet the quantitative targets for cross-border payments endorsed by the G20.” The task force is a part of the BIS Committee on Payments and Market Infrastructure (CPMI). The BIS Committee on Payments and Market Infrastructures has announced the membership of its cross-border payments interoperability…

SEC to seek interlocutory appeal in Ripple case

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The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate court. “Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed,” the…

Federal judge suggests Q2 2024 trial for SEC case against Ripple execs

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The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024. In an Aug. 9 filing in the U.S. District Court for the Southern District of New York, Judge Analisa Torres said the court would be moving forward with plans for a jury trial for Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen. The judge gave a deadline of Aug. 23 for prosecutors and defense lawyers to submit blackout dates…