Crypto

Ripple vs. SEC: Breaking the Deadlock with an Accelerated Decision – CryptoActu

The showdown initiated between the structure of Ripple Labs (XRP) and the US Securities and Exchange Commission (SEC) is clearly symbolic. And this is regardless of interest or distrust in this project, most famous for dividing the ranks of crypto investors. Because we are talking about drawing the necessary border in order to get away from the will of the control of this regulatory body in the cryptocurrency market. And after years of bitter fighting, the two sides seem to have finally come to an agreement: speed up the process to find a way out of this regulatory impasse.

The XRP cryptocurrency has been in turmoil for years now. This follows the interest shown by the US Securities and Exchange Commission (SEC) in its distribution model, implemented in the form of an initial coin offering (ICO). But also with the highly centralized nature of its control and development structure, led by its co-founder Brad Garlinghouse. Two ingredients in the origin of a suspected illegal sale of financial securities that has dragged on — and dragged on — since the end of 2020.

But you need to understand that the XRP project is just a stepping stone in the strategic fight that the SEC is waging against the cryptocurrency sector. This is to allow him to bite off a few digital square meters of fortune promised by his regulatory leadership, for now rather under the auspices of the Commodity Futures Trading Commission (CFTC). This is why the boss of this regulator will try his luck at the slightest opportunity, such as during the mutation of the Ethereum network at the end of last week… But perhaps also because he is facing difficulties in his file against Ripple Labs.

Regulation

Ripple – SEC has problems in the process against XRP

Hugh B. – February 26, 2022 – 09:00 AM

Whether we like it or not, the merit of the Ripple project is that it does not […]

Read more >>

Ripple vs SEC – Breaking the Regulatory Deadlock

It is no coincidence that the Ripple Labs structure found itself in such a situation before the Securities and Exchange Commission (SEC). Because his project causes a lot of anxiety even in the ranks of crypto investors. With suspicions of manipulating the market of their XRP cryptocurrency, which did not help to rectify the situation. But the desire for development remains the same, despite the difficulties encountered. For example, with the recent desire to buy the assets of Celsius, which is experiencing great difficulties after the collapse of the Terra Classic (LUC) ecosystem.

Exchange platforms

Ripple plans to buy assets from Celsius

Jordan P. – August 11, 2022 – 4:30 pm

Ripple Says It’s Looking into Buying Assets […]

Read more >>

However, it may well be that something is clearing up in this endless case initiated by the SEC. Because the joint statement made at the end of last week seems to be leaning towards the desire to immediately resolve this procedure, initiated in 2020. The request, which is to ask Federal Judge Analysa Torres to issue a preliminary ruling in the form of a summary judgment. The decision was made possible by the sufficient amount of evidence available to reach such a conclusion, without the need to resort to the appointment of a trial. And this is to find out once and for all whether the sale of the XRP cryptocurrency violates US securities laws. Drumroll…

“The SEC is not interested in law enforcement”

Simultaneous demands that show that neither side wants to admit defeat in this case. But also, and this is the crux of the problem, each of the two sides of this case believes that they cannot reach a conclusion in their favor. On the side of Ripple Labs is its co-founder Brad Garlinghouse, who once again explains to everyone who is ready to listen that “the SEC is not interested in law enforcement.” It’s hard to resist him!

“Today’s filings make it clear that the SEC has no interest in enforcing the law. They want to do it all over again in an impermissible attempt to expand their jurisdiction far beyond the powers granted to them by Congress.”

Brad Garlinghouse

Regulation

Ripple vs SEC – Is Everyone “Just” Guilty of Fraud?

Hugh B. – November 16, 2021 – 09:00 AM

In the field of cryptocurrencies, Ripple takes a place […]

Read more >>

Because in the end, the structure of Ripple Labs will not even be “just guilty of fraud”, as the SEC was still trying to make people believe at the end of last year. And as part of its petition for a summary judgment, the issuer of the XRP cryptocurrency argues that the SEC “cannot identify the investment contract” in this documentation. Just like she “can’t pass a single item on the Howie Supreme Court test.” Moments that definitely seem very positive for Ripple Labs. But that will be decided by the federal judge in charge of the case.

Do you want to invest in the cryptocurrency sector? The FTX platform offers you the opportunity to immerse yourself in this digital economy in complete safety. Register now to receive a lifetime discount on trading fees (promotional link).

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker.