Speculation about XRP does not end. The US Securities and Stock Exchange Commission (SEC) and Binance made a joint application for a 60 -day interruption of the ongoing lawsuits in the ongoing cases and increased the thoughts of experiencing the same situation. This decision in the Binance case was taken on the grounds that the creation of the new crypto duty force of the SEC may affect the case process.
Details of the joint application
The application offered by SEC and Binance is based on legal precedents that allow courts to temporarily stop the cases under certain conditions. In the application, Clinton V. It was emphasized that the courts could effectively manage the judicial processes of Jones (1997).
The main reasons for the application were as follows:
- Not to harm the parties– None of the parties object to this situation, as the decision is presented with the joint request of both parties.
- Efficient progress of the judicial process– The Crypto Task Force sets frame rules may facilitate an agreement or alternative solutions in the Binance case.
- Avoidance of the Unnecessary Judicial Process– If an early solution of the case is achieved, the court may not have to evaluate Binance’s applications to reduce the case.
The crypto duty force was announced on January 21, 2025 by Mark T. Uyeda, the Chairman of the SEC. The aim of the task force is to create a new regulatory framework about digital assets and to eliminate legal uncertainties in the sector.
What does it mean for XRP?
This development in the Binance case created great excitement in the XRP community. Crypto investor Ashley Prosper claimed that SEC’s attitude in Binance case could also affect the Ripple case. Zach Rector, the XRP supporter, is this development “The war against the crypto seems to be over! XRP is ready to fly! “evaluated with words. This interpretation increased the expectations that SEC could take a more moderate attitude towards crypto currencies.
SEC’s case against Ripple is seen as one of the most important legal processes for XRP investors. If a compromise is achieved in the Binance case, a similar development may be experienced for Ripple. This may clarify the regulative status of XRP and lead to a major increase in price.
What could happen in the coming period?
This 60 -day intermediate may cause some important developments in the crypto market:
- Crypto task force can create new rules that clarify the regulatory framework. Big companies such as Binance and Ripple can accelerate compliance processes.
- A possible agreement between SEC and Binance may constitute a precedent for the legal state of XRP and other crypto currencies.
- Positive developments related to regulation may trigger upward movements in prices of XRP and other digital assets.
Although the crypto market meets this development positively, the steps taken by the SEC will be decisive. If the crypto task force makes regulations clearer, the Ripple case and the market performance of XRP may vary greatly. This development creates a cautious optimism for XRP investors and the crypto market in general. However, the exact results will depend on the strategy that the SEC will follow in the coming months.
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