Ripple firm confirmed that they are not going back against the SEC and also the SEC chair will admit that they are picking losers and winners of the crypto market to bust them.
As we know a lawsuit is going on by the SEC against Ripple company. All the past hearing and results, shows that at one side Ripple company achieved victory but in some situations SEC authority sustained their issues with high validity against Ripple. Recently, the Ripple company tried to indicate that regulators just want to destroy the crypto players.
In an conversation with Fox Business, The legal team of Ripple firm told that they have no plan to settle the case with the U.S. Securities and Exchange Commission (SEC), and added
“Ripple team is confident and they can show Gary Gensler in pursuing the case is picking winners and losers in the crypto business to the detriment of innovation”
The case between SEC and Ripple firm has been ongoing since 1 year. And it seems that, case is not going to be over soon.
But most of the XRP supporters believed that Gary Gensler, Chair of Securities & Exchange Commission ( SEC) will help Ripple to get out of this lawsuit. Because Gary is highly knowledgeable and he knows very well how this industry works and also he teached about crypto in MIT (Massachusetts Institute of Technology).
Well here we should not see that Ripple doesn’t want this case to settle. Indeed, in this situation Ripple firms don’t want to compromise with their reputation. Once in January, Ripple was questioned in Garlinghouse that why they don’t want settle with the SEC, then Ripple firm said
“Can’t get into specifics, but know we tried — and will continue to try with the new administration — to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved.”