CoinEfficiency

Ripple Strengthens Legal Team in Ongoing SEC Battle

Ripple hires top attorney Rahul Mukhi as legal battle with SEC continues, focusing on XRP classification.
Published on 2023-09-26

Ripple's Legal Reinforcement

Ripple has strengthened its legal team in its ongoing battle with the U.S. Securities and Exchange Commission (SEC) by hiring renowned attorney Rahul Mukhi. This strategic move aims to bolster Ripple's defense as the conflict over the classification of XRP continues.

The Legal Battle's Background

The conflict began in December 2020 when the SEC accused Ripple of trading XRP as an unregistered security. Ripple achieved a partial victory in July 2023, with a U.S. court ruling that most XRP sales were not investment contracts. However, the SEC appealed this decision in September 2023, indicating the legal struggle is ongoing.

Mukhi's Strategic Role

Rahul Mukhi, with his extensive experience in government and regulatory investigations, is now representing Ripple and its CEO, Brad Garlinghouse. Mukhi's background includes significant cases involving financial fraud and cybercrime, making him a valuable asset to Ripple's legal team.

Changes in Ripple's Legal Representation

Recent changes in Ripple's legal representation occurred following Lisa Zornberg's departure from Debevoise and Plimpton LLP. Despite these adjustments, Ripple remains focused on its legal strategy, with Mukhi's expertise expected to play a crucial role.

Potential Outcomes and Speculations

Speculation surrounds whether the case will go to trial, especially with Ripple's founders named as co-defendants. Legal experts suggest the SEC's strategy might be to pressure Ripple into a settlement. Meanwhile, XRP's price has stabilized around $0.5, reflecting investor sentiment amid ongoing legal developments.

Ripple's legal battle with the SEC continues to unfold, with significant implications for the cryptocurrency industry and its regulatory landscape.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.