It is said that the US Securities and Stock Exchange Committee (SEC) is considering whether Altcoin XRP payments can qualify as a commodity.
Earlier this week earlier this week, a lawsuit against Ripple appears to be concluded.
The lawsuit may have been resolved now, but the Ripple Legal Team has prolonged the case in an attempt to reduce a $ 125 million civil penalty requested by a judge last year, according to Territt reports. SEC recently gave up many prominent encryption cases, according to the Trump administration’s embrace of the sector.
Charles Gaspreno, Fox correspondent for business, Reports SEC also weighs whether XRP can be classified as a commodity.
SEC filed a lawsuit against Ripple in late 2020 by allegedly selling XRP as unregistered security.
In 2023, the provincial judge, Angisa Torres, ruled that the XRP automated Ripple sales did not constitute security offers, unlike SEC.
However, the judge, along with SEC, claimed that XRP sales directly for institutional buyers were securities.
XRP is trading at $ 2.24 at the time of this report. The encryption assets decreased fourth, according to the maximum market by 14 % last week.
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