SEC Set to Make Potentially Big Announcement, Ripple and Kraken Settlements Speculated: FOX Business journalist Eleanor Terrett
The United States Securities and Exchange Commission (SEC) is expected to make a potentially big announcement on Feb. 9 at 2 p.m. ET, according to a tweet by FOX Business journalist Eleanor Terrett. The speculation about the announcement is centred around the possibility of a settlement with either Ripple or Kraken.
🚨SCOOP: My @SECGov sources tell me to be prepared for a potentially big announcement tomorrow. Could it have something to do with a @krakenfx settlement following a closed meeting at 2pm? Could settlement terms have industry ramifications? We’ll see. 👇🏼https://t.co/AVy0O5dsIG
— Eleanor Terrett (@EleanorTerrett) February 9, 2023
Ripple is currently engaged in a legal battle with the SEC, which alleges that the $1.3 billion sale of XRP constituted an unregistered security offering. The outcome of the lawsuit is believed to have far-reaching implications for the entire crypto industry, and a settlement with the SEC could only be considered if XRP is deemed a nonsecurity.
On the other hand, according to Bloomberg, the SEC is investigating whether top crypto exchange Kraken broke securities rules related to certain offerings to U.S. clients. The probe is reportedly at an advanced stage and may result in a settlement soon. However, it is not yet clear which tokens or offerings are under investigation.
The crypto community is eagerly awaiting the outcome of the SEC’s closed meeting and the potential announcement, as it could have significant ramifications for the industry.
Read more:
- The Most Recent Information Following The Victory On Secondary Market Sales In Ripple Ally V. SEC
- Why XRP Can’t Be Classed As A Security Even If It Was Sold As One
- The Attorney Is Taking A Stand Against Allegations Made In An Investor Lawsuit Against Ripple