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Ripple v. SEC Stalls Again as Appeal Put on Hold — Here’s What’s Holding It Up
The U.S. Securities and Exchange Commission (SEC) has requested to extend the pause in its high-profile legal battle with Ripple Labs, with the next court update scheduled for August 15.
In a joint filing submitted on June 16, both parties asked the Second Circuit Court of Appeals to maintain the current hold, citing an unresolved district court issue—despite reaching a formal settlement agreement last month.
What Began as a Billion-Dollar Dispute Edges Toward Resolution
▪️ This case, launched in 2020, centers around the SEC’s accusation that Ripple illegally raised $1.3 billion through unregistered XRP sales.
▪️ A partial ruling in 2023 provided clarity: XRP sales to retail investors were not securities, but institutional sales were found to have violated securities laws.
▪️ In May 2024, the two sides reached a settlement in principle, finalized in writing on May 8. Under the agreement:
- Ripple will pay $50 million to the SEC.
- The remaining $75 million from a previous penalty will be returned to Ripple.
- The injunction blocking certain Ripple activities would be dissolved.
Settlement Hits a Wall in District Court
▪️ The agreement cannot move forward without district court approval to revise its earlier judgment.
▪️ Both parties submitted a motion requesting an indicative ruling—a legal signal from the court that it would consider modifying the judgment.
▪️ On May 15, the court denied this motion, citing a failure to meet the standard of “exceptional circumstances.”
▪️ In response, the SEC and Ripple filed a renewed motion on June 12, hoping to meet the court’s threshold. No ruling has been issued yet.
Appeals Paused, Legal Uncertainty Grows
▪️ As the legal process stalls, the SEC has asked the appeals court to continue the pause, promising an update by August 15.
▪️ The delay prolongs regulatory uncertainty as crypto firms, investors, and policymakers await further clarity on the application of U.S. securities law to digital assets.
▪️ With billions in crypto markets still in a legal grey area, this case remains a bellwether for how token sales and crypto company operations may be judged going forward.
A Waiting Game With Major Implications
While a path to resolution appears to be forming, the final outcome hinges on court approval of the settlement terms. For now, both the appeals and the Ripple-SEC agreement remain in limbo—with industry-wide consequences hanging in the balance.
@ Newshounds News™
Source: CryptoNews
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Cardano Founder Confirms Full XRP Package in the Works Around Glacier Airdrop, XRP DeFi, and RLUSD
Charles Hoskinson has confirmed that a comprehensive XRP ecosystem integration is underway within the Cardano network, including support for the Glacier Airdrop, XRP-powered DeFi, and possible RLUSD stablecoin adoption.
The announcement signals a major shift toward cross-chain collaboration and potentially heals long-standing tensions between the Cardano and XRP communities.
Glacier Airdrop and XRP Wallet Support on Lace
▪️ A core piece of this initiative is the Glacier Airdrop, now expected in Q4 2025, which will distribute Midnight tokens—used for Cardano’s privacy-focused sidechain—to retail users across multiple chains, including XRP holders.
▪️ Hoskinson emphasized this effort is built around “cooperative economics,” prioritizing community participation over VC allocations.
▪️ The airdrop will reportedly reach over 37 million wallets, marking one of the largest cross-chain community rewards attempted in the blockchain space.
▪️ Additionally, Cardano’s Lace wallet is preparing to add native XRP support, following its successful Bitcoin integration in Lace v1.22 this past April.
“This is part of our effort to turn Lace into a true multi-chain asset manager, bridging Cardano to wider ecosystems,” Hoskinson said.
XRP DeFi Integration in Cardano’s Ecosystem
▪️ The Cardano team is actively developing infrastructure to bring XRP into its DeFi environment, focusing on:
- Cross-chain liquidity pools
- Decentralized exchanges (DEXs)
- Leveraging XRP’s speed and cost-efficiency
▪️ While still early-stage, Hoskinson suggested that Midnight, Cardano’s zero-knowledge sidechain, may play a key role as a DeFi layer for XRP, potentially offering enhanced yield opportunities.
Talks Underway for RLUSD on Cardano
▪️ In what could be a milestone for stablecoin interoperability, Ripple’s RLUSD may soon expand beyond the XRP Ledger, with discussions underway about integrating it into the Cardano network.
▪️ Hoskinson confirmed these conversations are in their early stages but said both parties “see real value” in bringing RLUSD to Cardano’s ecosystem.
- The move would expand RLUSD’s user base
- It would also boost liquidity and stability within Cardano DeFi platforms
Toward a Real XRP–Cardano Partnership
Hoskinson’s comments mark the most direct effort yet to bridge the XRP and Cardano ecosystems, historically viewed as separate and even adversarial within crypto discourse.
▪️ The proposed “XRP package” includes:
- Glacier Airdrop eligibility for XRP holders
- Lace wallet XRP support
- DeFi connectivity via Midnight
- Potential RLUSD cross-chain deployment
Though still in development, this initiative could bring two of crypto’s largest communities closer than ever—and lay the foundation for shared infrastructure, liquidity, and growth.
@ Newshounds News™
Source: The Crypto Basic
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What Happens if BRICS Currency Prevails — and Why Is India Worried?
The proposed BRICS currency—championed by China and Russia—is gaining momentum as the alliance prepares for its possible launch. A mock-up bill displayed by President Putin at the last BRICS summit confirmed that plans for a new tender to rival the U.S. dollar are active and advancing.
But as excitement builds, one member is signaling sharp resistance: India. New Delhi has expressed open concerns about the impact such a currency could have on its economy—and its place in the global financial system.
India Breaks Ranks Over De-Dollarization
▪️ India is the only BRICS member to publicly oppose the de-dollarization agenda promoted by China and Russia.
▪️ This comes after former U.S. President Donald Trump warned of potential economic consequences for nations drifting away from the U.S. dollar.
▪️ While Brazil remains cautious, India has made it clear that it favors maintaining ties with Western financial institutions, rather than embracing a BRICS-led currency model.
China’s Leverage and the Belt and Road Factor
▪️ China’s Belt and Road Initiative (BRI) plays a pivotal role in its influence over smaller BRICS and Global South nations.
- With billions invested in ports, railways, and infrastructure, Beijing already holds significant financial sway.
- A successful BRICS currency would only solidify China’s economic dominance across Southeast Asia and Africa.
▪️ India is particularly concerned that such a shift would give China further power to shape trade policies across the region, leaving India at a strategic disadvantage.
Rupee Vulnerability and Asymmetrical Trade
▪️ If the BRICS currency succeeds, the Indian rupee could face increased instability, especially if regional trade begins to shift away from dollar benchmarks.
▪️ India-China trade has long been imbalanced, and ongoing border disputes have only heightened mistrust.
- Indian policymakers fear that China could weaponize a BRICS currency to tip economic dynamics further in its favor.
“India recognizes the BRICS currency as a potential vehicle for Chinese dominance—not just economically, but geopolitically,” analysts note.
Modi’s Balancing Act: Contain China, Preserve Western Ties
▪️ Under Prime Minister Narendra Modi, India is pursuing a strategy to limit China’s financial rise while preserving its role within the BRICS framework.
▪️ India views continued alignment with Western financial systems as a buffer against Chinese overreach.
▪️ The government’s stance reflects a broader objective: to maintain balance in Southeast Asia and ensure that no single power—especially China—dictates the region’s financial architecture.
What’s at Stake
▪️ A successful BRICS currency could reshape global finance, potentially undermining the dollar’s dominance.
▪️ But for India, the cost could be economic instability and geopolitical disadvantage.
- A BRICS tender led by China threatens to shift the region’s center of gravity, with India forced into a reactive, rather than proactive, role.
For now, India is pushing back, hoping to reshape the conversation before a BRICS currency becomes reality.
@ Newshounds News™
Source: Watcher.Guru
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