Ripple Co-Founder Backs Kamala Harris While Crypto Regulatory Debates Continue
Portfolio Pulse from Murtuza Merchant
Ripple's co-founder Chris Larsen endorses Kamala Harris for president amidst ongoing crypto regulatory debates. Ripple recently won a legal victory against the SEC regarding XRP sales, impacting the crypto industry's regulatory landscape. Ripple is also seeking to delay a $125 million penalty payment in its ongoing legal battle with the SEC.
September 06, 2024 | 3:44 pm
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Ripple's co-founder Chris Larsen's endorsement of Kamala Harris comes after Ripple's legal victory against the SEC, which ruled that XRP sales on exchanges are not investment contracts. This decision is significant for the crypto industry, potentially affecting how digital assets are classified under U.S. securities laws. Ripple is also seeking to delay a $125 million penalty payment in its ongoing legal battle with the SEC.
The legal victory against the SEC is a positive development for Ripple, as it sets a precedent for how XRP and potentially other cryptocurrencies are viewed under U.S. securities laws. This could lead to increased investor confidence in XRP. The endorsement of Kamala Harris by Ripple's co-founder may also align Ripple with potential favorable regulatory changes. However, the ongoing legal battle and the $125 million penalty still pose risks.
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