XRP News Today: Ripple Navigates SEC Challenges as US Lawmakers Push FIT21 Bill

The upcoming court ruling on the sealing motions may not directly affect the decision regarding the penalties Ripple faces for breaching US securities laws. However, sensitive information relating to Ripple’s financial statements and counterparty agreements could affect Ripple’s business relationships and XRP adoption.

On Monday, the SEC filed its response to a Ripple Motion to Seal. Notably, the SEC rebutted Ripple’s arguments about releasing sensitive information, including financial statements, saying that the documents constitute judicial documents.

The SEC vs. Ripple case outcome will influence buyer appetite for XRP. However, SEC plans to appeal the Programmatic Sales of XRP ruling remain an XRP headwind.

Amidst increasing scrutiny of the SEC vs. Ripple case, US lawmakers remained under the spotlight.

US House of Representatives Support the FIT21 Bill

On Wednesday, the US House of Representatives approved the FIT21 Bill with a 279 to 136 majority vote. FIT21 would provide a digital asset regulatory framework, driving innovation while protecting US consumers.

US House Committee on Financial Services Chairman Patrick McHenry had this to say about FIT21,