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SEC
SEC

XRP Lawsuit: Ripple Continues To Exude Confidence

bitcoin
XRP

Ripple CEO Brad Garlinghouse gave positive signals that they would win the lawsuit against the Securities and Exchange Commission (SEC)

The defense turned out to be better than he expected , he said.

The SEC’s Case

In the case filed 15 month ago Ripple’s CEO and chairman of the company’s board of directors has engaged in illegal activities worth $1,3 billion dollar.

According to the SEC, XRP coins were sold without having been registered with the regulator. Garlinghouse said that , XRP operates as an unrecognized virtual currency that is not registered as a security. XRP should be treated as a virtual currency rather than an investment contract , they argued.

Bad precedent

They think it would set a bad precedent for crypto if the case was lost.

“This case is important , not just for Ripple: it’s important for the entire crypto industry in the United States. It would be negative for crypto in the United States.”

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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