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Ripple and SEC action could lead to the dismissal of bitcoin ETFs

The SEC filed an enforcement action against Ripple for failing to register as required by federal securities laws.The us securities and exchange Commission (SEC) is suing Ripple to force the company to register as a " security" a security on the securities exchange Commission's (SEC) registration form. According to the SEC, Ripple failed to comply with several sections of the Howey test, as well as Federal securities laws. under U.S. law, including the securities act of 1933 and the securities exchange act of 1934.The securities and exchange Commission filed an enforcement action on August 6 against Ripple for failure to register as required by Federal securities laws. SEC.Ripple allegedly failed to comply with several sections of the Howey test while simultaneously adhering to Federal safety regulations. Howrey is a general test that evaluates whether a security is considered important by investors based on the number of shares outstanding at the time of purchase. According to the SEC's lawsuit, Ripple is also alleged to have failed to comply with several other sections of the Howey test, including Federal securities laws.Howrey is a general test that assesses whether a security is important by comparing its market capitalization to the market value of the underlying asset. Ripple is suing for not complying with this test. Ripple is filing an enforcement action after the SEC filed an enforcement action against Ripple for not complying with the Howey test - a test developed by the U.S. Department of justice that compares the market capitalization of a security to the market value of the underlying asset.This means that an investment company that invests money in XRP is also allegedly in violation of the securities and exchange Commission 's securities registration requirements.According to Ripple's lawyers, the SEC's actions are " deliberately timed to expand the scope of its enforcement jurisdiction and assert that XRP is a security." Ripple's lawyers also accuse the SEC of " deliberately misinterpreting the notice that XRP is a security." notice that XRP is a security in the US, while simultaneously trying to undermine the Commission 's authority and "avoid responsibility" for its actions.Ripple's lawyers cite the example of the us dollar, which is "extremely vulnerable to manipulation by unscrupulous parties," because US dollars circulate in circulation, and because "anyone can manipulate the rate." anyone can issue a loan or lend money to XRP.Ripple says that SEC actions "pose a risk of irreparable damage" to its client XRP and "may be used to extort settlements from other defendants." In this case, Ripple claims that the defendants are "using the SEC's regulatory authority to extort settlements from other defendants."For their part, the defendants concede that there are no assurances that the situation will be resolved quickly. They point to the fact that the SEC's enforcement authority extends only to the United States, and that international settlements have already begun.Ripple's