Replay Helps SEC, $ 1.3 Billion Lawyer Claims ‘Attack on Whole Crypto Industry in the United States’

Ripley has slammed the US Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. Given the SEC’s decision to designate its XRP token as security, the company claims that the regulator’s claim against it is tantamount to an attack on the entire US crypto market.

XRP token holders affected

Recent comments from the Ripple team follow reports that XRP tokens have been listed by Synbase. In a brief statement issued on December 29, the firm, which promises to “respond in a few weeks to remove these unsubstantiated allegations against Ripple”, begins by claiming that the public and the media are currently only aware of the SEC’s statement.

Replay Helps SEC, નો 1.3 Billion Lawyer Claims 'Attack on the Whole Crypto Industry Here in the United States'

The Ripple team then claims SEC’s 1. 1.3 billion claim that the company “affected innocent XRP retail holders” rather than suing the company. The trend is set to continue since deleting the token. The corrugated statement explains:

We have always said that the U.S. There is a dangerous lack of regulatory clarity for cryptocurrencies – their lawsuits have already affected numerous innocent XRP retail holders with no affiliation with Ripple. It has also unnecessarily polluted water for exchanges, market producers and traders.

Ripple customers U.S. Out

Meanwhile, the Ripple team, whose officials had previously threatened to leave the United States, is also reiterating the statement that tokens are primarily traded outside that country.

“Most of our customers are not in the U.S. and overall XRP volumes are mostly sold outside the U.S., for example in the UK, Japan, Switzerland, ND and Singapore there are clear road rules for using XRP,” the corrugated statement reads. .

Meanwhile, the Ripple team says it is ready to defend itself in court, although the statement said the company is also pinning its hopes on the incoming SEC leadership. The term of the SEC board, headed by Jay Clayton, which decided to file a lawsuit against Ripple, ended recently. Lawyer Elad Roisman has been appointed acting chairman following Clayton’s departure.

New S.E.C. Board course change course

However, others, such as lawyer Jack Cherwinski, say there are obstacles to winning the ripple despite changes across the board. In a Twitter post, Chervinsky Says:

It is highly unlikely that a change in SEC leadership will have an impact on the Ripple case. Given the clear silence of Comm Mir Pierce, I believe there is a consensus in favor of filing a vote. Regardless, the case is being prosecuted by enforcement lawyers who have come to live here.

Interestingly, the SEC has already ruled that Bitcoin and Etherium are not securities, which does not stop Bitcoin opponents like Peter Schuff from entertaining the idea. Its recent tirade against Bitcoin, Schiff Weight Asked what would happen if the SEC similarly designated Bitcoin as a security, the XRP fell into a frenzy.

Do you think the recent changes in the SEC will affect the outcome of this case? Share your thoughts in the comments section below.

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