Messari CEO says Ripple is not guilty of violating securities laws

On Nov 16, 2021

The CEO of Messari shared his stance on the Ripple vs SEC and said that the Ripple firm is not guilty of violating securities law.

The legal battle between San Francisco-based firm Ripple and US Securities and Exchange Commission (SEC) is continuously going on since last year. In the last court hearing, SEC got the approval from the Court to get videos tapes of the important meeting of Ripple firm. In the latest, Messari CEO shared his take in this case.

Ryan Selkis, CEO of Messari, taken to Twitter regarding the case. Ryan said that Ripple is not guilty of violating the securities law but Ripple firm is guilty of fraud and as per the fraud lawsuit it should be punished.

Ryan tried to criticize the leadership of the SEC agency and said:

“They misled XRP holders over insider token selling, selectively disclosed data, and hyped partnerships as value additive to the underlying currency.”

According to Ryan, fraud activities done by Ripple should be part of the case. Instead to extend the case and focus on the violations of the securities law. He added:

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“SEC is fighting technical securities violations while ignoring the Safe Harbor, which would prevent fraud.”

Further, Ryan asserted on the game that is going all against the Ripple company and emphasized that there should be a proposal over the Ripple firm to trace the distribution and decentralization strategy.”

“The company either would have cleaned up its ongoing reporting, or face enforcement action for fraud. The would have been a pro-growth and pro-innovation strategy. The executives would have improved their reporting, or faced fraud charges, not mere securities violations.”

Testifying before Congress, Gensler refused to answer whether or not he had read @HesterPeirce’s Safe Harbor, which means he hasn’t. The mere fact that he hasn’t even taken the small amount of time to read her Safe Harbor tells you everything you need to know about his intent.
— John E Deaton (@JohnEDeaton1) November 14, 2021

Here, the opinion Ryan is not against the Ripple or SEC agency. In actual he tried to share his point of view that how the SEC agency can do much better against Ripple. However, Ryan is well-known critics of the Ripple firm, even before the SEC lawsuit.