Ripple’s Proper Party, scheduled for September 29th, has sparked excitement within the crypto community. This event comes after Ripple’s recent legal victory against the United States Securities and Exchange Commission (SEC), where a judge ruled that XRP tokens should not be classified as securities. As the event approaches, crypto legal expert John E Deaton provides insights on what the XRP community can expect.
Deaton, the founder of Crypto-Law.us and a prominent figure in the crypto legal field, believes that there will be no announcement of an Initial Public Offering (IPO) or settlement at the Proper Party. He explains that the SEC is unlikely to approve an IPO while it continues to pursue permanent injunctions against Ripple’s future institutional sales of XRP. Additionally, a settlement would only be feasible if there are significant developments in the ongoing Coinbase vs. SEC lawsuit.
Despite the absence of an IPO or settlement announcement, Ripple has already disclosed that it is re-engaging with U.S.-based clients for its payment software solutions. This is a significant step forward for the company and has positive implications for both retail traders and institutional investors.
The Ripple community eagerly awaits the Proper Party, with registrations for the event now open. Speculation is rife about whether there will be an IPO announcement that drives the XRP price to $1 or if the company will simply celebrate its legal triumph. However, Deaton warns against getting too hopeful, as the SEC’s current legal stance makes both scenarios unlikely at the moment.
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The SEC’s lawsuit against Ripple has had a significant impact on the crypto landscape. Many XRP holders are waiting for a settlement with the SEC, and Deaton explains that this could only happen if Judge Failla grants Coinbase’s motion to dismiss the lawsuit. If this occurs, there may be a shift in the SEC’s approach under the leadership of Gary Gensler.
As the Proper Party draws near, it is essential for individuals to conduct their own research and stay informed about the developments in the crypto industry. Crypto News Flash provides valuable information and updates, but readers should make informed decisions and exercise caution when engaging with cryptocurrencies.
In conclusion, while the Ripple community eagerly awaits the Proper Party, it is unlikely that there will be an IPO or settlement announcement at the event. Despite this, Ripple is making progress in re-engaging with U.S. clients, and its legal victory has significant implications for the crypto market. The landscape may change if developments occur in the ongoing Coinbase vs. SEC lawsuit, providing an opportunity for a potential settlement. As always, it is crucial for individuals to stay informed and approach the crypto market with caution.
