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Also Read: Terra Luna Classic Top Validators Support Crucial Dynamic Minimum Commission Proposal advertisement John Deaton Explains Potential Settlement Terms Responding to a question on what could come between the two parties and a settlement, attorney Deaton said the ongoing Coinbase Vs SEC lawsuit could be crucial to the prospect of Ripple settlement. This is because if the judge in the Coinbase case grants the exchange a motion to dismiss, it would mean that token sales on the exchange does not fall under U.S. securities laws, while the crypto staking part continues to be a part of the litigation. He explained, “The only way Ripple and the SEC (could) settle before the end of the year is if Judge Failla grants the Coinbase motion to dismiss or partially grants it – finding token sales on an exchange in a blind bid/ask transaction do not fall under U.S. securities laws” If the motion to dismiss is granted, the SEC would find it tough ...

Also Read: US CPI Data Release: How Will Bitcoin Price React? advertisement Lawyers on both sides of the XRP Vs SEC lawsuit had a busy day on August 9, 2023, with two filings, one each from the agency and the Judge. The onus is now on how Ripple reacts to these developments. Ripple Filing Response Next Week Stuart Alderoty, the Chief Legal Officer at Ripple, clarified on the rights the agency have in terms of appealing the Summary Judgment. He said the agency is only seeking the court’s permission to file an appeal. In response, Ripple will file a letter to the court next week, Alderoty said. Importantly, the US SEC is not seeking to appeal against the decision of XRP being a security, it is rather on its losses on the programmatic and individual sale of the token. “The SEC does not have the “right” to appeal just yet which is why they are asking permission to file an “interlocutory” appeal. Ripple will file its resp...

Representative Patrick McHenry, the US House Financial Services Committee chair, endorsed PayPal’s stablecoin , PYUSD, as a key pillar for modern payments. The endorsement was given on Aug. 7, shortly after PayPal announced the stablecoin launch in partnership with Paxos. #NEW: Chairman @PatrickMcHenry releases a statement following the announcement of PayPal's payment stablecoin launch . Read more https://t.co/LOF9ayUNnG pic.twitter.com/sRfSfLYbXQ — Financial Services GOP (@FinancialCmte) August 7, 2023 In his statement, McHenry emphasized that PayPal’s stablecoin , issued under a clear regulatory framework, holds significant potential for the US financial ecosystem. This comes amid the Financial Services Committee’s effort to enact the Clarity for Payment Stablecoins Act, a bipartisan bill passed by the committee on July 27 but still awaiting enactment. The Clarity for Payment Stablecoins Act aims to recognize state-level regulation of crypto compa...

Crypto lawyer s John Deaton and Mike Selig took to Twitter to debunk misconceptions about the judge Torres’ decision regarding XRP’s security status . The legal experts sought to clarify the ruling amid what they deemed to be widespread inaccuracies perpetuated by financial commentators and even some politicians. John Deaton, the founder of CryptolawUS, expressed his concern about the misinterpretation of the US judge Torres decision, questioning whether it was a result of genuine confusion or intentional misinformation to push false narratives. He called out politicians like Brad Sherman, accusing them of disregarding the law to gain more control over financial markets. It’s amazing how many people including financial commentators continue to misstate the Torres Decision. Mike explains it well below. The question I have is whether this is genuine confusion or are people intentionally misstating what she said to promote a false narrative.… https://t.co/1xXqiNEi4F ...

Also Read: UK and Singapore Unite for Crypto Standards: The Next Big Leap for Digital Asset Regulation? advertisement Meanwhile, the official Twitter handle of one of the top United States based crypto exchange asked the big question in the Crypto Market , about the option to receive payments in Bitcoin . Now imagine the option to receive payouts in Bitcoin . Wen crypto integration? 😉 💜 — Kraken Exchange (@krakenfx) July 28, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] ...

In the wake of the US government being accused of covering up extraterrestrial activity, crypto degens were quick to sprout a shiny batch of memecoins. Crypto degens have been quick to try and capitalize on a widely-watched hearing where former United States government officials have claimed the existence of alien space craft and “biologics." Testifying under oath at the House Oversight Subcommittee on National Security, David Grusch, a former Pentagon task force member on Unidentified Aerial Phenomena (UAP) and whistleblower, accused the U.S. government of covering up alien visitation to Earth. The July 26 hearing has since gone viral, prompting over 50 alien, UFO, or other extra-terrestrial themed-tokens to crop up over the last 24 hours. While Grusch admitted he couldn’t provide answers to specific questions due to much of the information remaining classified, he said that the United States government was in possession of “non-human” spacecraft. Citing Pentagon sources who...

Also Read: Tesla Retains Dogecoin As Payment Option; Removes Bitcoin advertisement Meanwhile, Ripple is moving ahead with its expansion plans in Europe after the historic win in the SEC case. Earlier on Friday, CoinGape reported that the company applied for a crypto asset firm license with the UK’s Financial Conduct Authority (FCA) as well as a payment institution license with Ireland regulators. Will The US SEC Request For Appeal Against XRP Ruling? According to Bill Hughes, a lawyer with crypto wallet MetaMask’s developer ConsenSys, the federal regulatory agency will have to act quickly if they were to stand a chance to appeal against Judge Torres’ decision. Hughes explained that very soon the SEC would have to inform the district court that it wishes to appeal the summary judgment and seek permission to do so. If permitted, the SEC officials could present an argument as to why they need to appeal. Also Read: Binance’s Half-Yea...

Also Read: Terraform Labs Wants Access to FTX Wallets in Fraud Case Defense advertisement Since the Summary Judgment was delivered, the XRP price grew by as much as 60% and so far maintained the same price range around the $0.80 mark, whereas the XRP holders are speculating on the token touch ing $1 mark soon. The ruling brought about immediate change in the United States crypto ecosystem, with top exchanges like Coinbase reinstating XRP trading on its platform. Attorney Jeremy Hogan Explains XRP’s Untouchable Part Referring to the historic ruling by Judge Torres, the attorney said the SEC may not be able to appeal the XRP ’s status as not being a security in itself. He explained that the underlying meaning in the order shows that part of the order is not appealable, in what could be an irreversible victory not just for XRP holders but also for the Crypto Market . “I don’t think that’s appealable. I don’t think an...