SEC Appeals Ripple Case Over Complex Legal Issues While the Firm Secures Fortress Trust Acquisition

Get the latest update on the Ripple case as the SEC appeals for a review due to complex legal issues. Meanwhile, Ripple acquires Fortress Trust to enhance its regulatory licenses and customer experiences.

Posted 8 months ago in Blockchain


Image: Background representing legal complexities and a business acquisition.

The United States Securities and Exchange Commission (SEC) has filed an appeal in the Ripple case, citing complex legal issues that need review. Ripple's Chief Legal Officer, Stuart Alderoty, criticized the SEC's move as hypocritical, considering the regulator's previous stance on clear rules. The SEC argues that certifying its interlocutory appeal would benefit all parties involved and conserve valuable resources. This appeal could also open the door for Ripple to seek a review regarding institutional sales.

Despite the legal battle, Ripple has successfully completed the acquisition of Web3 infrastructure startup Fortress Trust. This purchase expands Ripple's regulatory licenses, including a Nevada Trust license. Ripple aims to use this acquisition to enhance customer experiences for enterprises using its crypto infrastructure solutions.

Although these developments have not impacted XRP's price performance in the last 24 hours, the digital asset is currently trading at $0.5027.

It is important to independently verify facts and consult with professionals before making any decisions based on this content.

Last updated 9/9/2023, 6:43:44 PM

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