Hot Developments From Ripple (XRP) Litigation: Mistake Made?
The #SEC and #Ripple (XRP) lawsuit remains one of the expected big developments of the crypto market. Although Ripple has made positive developments step by step in key points during this lawsuit, the SEC continues to make statements to the contrary.
https://unsplash.com/s/photos/breaking-news
As it is known, the SEC filed a lawsuit against Ripple and its officials towards the end of 2020. According to the lawsuit, the SEC argues that Ripple has committed over $1.3 billion in sales violations. However, Ripple does not accept the claims and states that the sales are legal as XRP does not fall under the scope of securities. Also, Ripple is making a significant objection in its defense. In this defense, Ripple questions why the SEC ignores BTC and ETH and considers XRP a security.
🟥How is the SEC Handling the Case?
Former SEC director William Hinman has made it clear that the commission does not view Ethereum and Bitcoin as securities. Crypto market followers also convey that Ethereum violated the law with a sale of $ 18 million, but the SEC did not have any reaction on the matter. On the other hand, the SEC hesitantly answers questions about its different stance towards Ripple and Ethereum .
🟥Is the SEC Unjust?
In this process, which extends to the present day, numerous reports and evidence have been presented for this case. In every statement made about the case, Ripple seems to be providing a separate benefit, and experts think that the SEC made a wrong decision with this case. With the appointment of Analisa Torres to the case, Ripple defendants feel that more positive results will come. Along with these developments, the price of XRP also increased, and investors began to look more positively both for the outcome of the lawsuit and for the price of XRP.
The case is still pending and its conclusion is expected to take time. However, considering the arguments of both sides, some results and data obtained, crypto market commentators think that the SEC is trying to hide some facts and made a big mistake. Experts think that if the SEC turns out to be wrong, it could increase distrust of the crypto ecosystem and the public towards government officials.