SEC Concludes Investigation into Ethereum 2.0, Impacting Ripple’s Legal Battle
XRP Witnesses a Modest Increase Amid Regulatory Developments
In the most recent updates from the world of cryptocurrency, XRP has shown a slight uptick of 0.51%, closing at $0.4939. This comes as a partial recovery from the previous day’s decline. Interestingly, this market movement aligns with the news that the SEC has wrapped up its investigation into Ethereum 2.0 without any intentions of filing charges. This marks a significant milestone for Ethereum developers and the wider crypto industry.
Implications for Ripple’s Legal Battle
The decision made by the SEC regarding Ethereum 2.0 could potentially have implications for other legal battles, including Ripple’s ongoing struggles. Despite a previous ruling against XRP’s sales to institutional investors for violating US securities laws, the broader implications of the SEC’s position on Ethereum could shape future legal outcomes for Ripple’s sales.
Challenges Faced by Coinbase
The crypto community is closely monitoring Coinbase’s legal challenges as the company appeals a court ruling related to its operations as an unregistered securities exchange. The outcome of this appeal could further influence the regulatory framework for digital assets in the United States. Investors and observers are advised to stay updated on the latest developments, especially concerning the SEC’s actions and legal proceedings, which continue to impact the dynamics of the cryptocurrency market.
Consensys and Ethereum 2.0
Leanor Terrett, a Fox Business Journalist, reached out to Consensys founder Joseph Lubin for his thoughts on the SEC’s decision to end its investigation into Ethereum and its implications for their lawsuit against the agency. Lubin confirmed that despite this development, they are determined to pursue their legal battle.
In a tweet, Lubin expressed his views on the SEC’s decision, stating that while it is a positive step, there is still a need for a more effective regulatory approach. Consensys officially announced the conclusion of the SEC’s investigation into Ethereum 2.0, highlighting it as a victory for Ethereum developers and industry participants.
XRP’s Market Performance
As previously reported, XRP has started the week on a high note, outperforming the broader market where most coins experienced a slight decline after a quiet weekend. Despite Ripple’s ongoing negotiations with the SEC for a lesser fine, XRP is trading at $0.4979, showing an increase of 1.41% in the past day and 2.16% in the past week.
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