Ripple legal officer says we’re at the end of our journey with the SEC
Stuart Alderoty said that Ripple is not only fighting to defend Ripple labs but instead defending the whole crypto sector.
Ripple is a famous crypto firm, known for providing cross-border payment services to multinational companies. Ripple is headquartered in San Francisco (US) but the majority of its customers are from non-US countries. Since Dec 2020, Ripple has been in a legal conflict with the United States Securities Exchange Commission (SEC) over its business model with XRP coin & the nature of XRP coin, which is unregistered security under the purview of the SEC body.
Recently Ripple legal officer Stuart Alderoty appeared in a new interview & in the interview he talked about the Ripple Vs SEC lawsuit.
Alderoty said that Ripple firm already said that its legal team is defending Ripple against SEC, on behalf of the whole crypto sector, which means the company is defending the crypto sector in the court, instead of itself as a focus.
“We said from day one that we were going to defend this case not only on our behalf, but we were going to defend this case on behalf of the entire crypto industry in the United States…(…)…Everyone understands how important this fight is, “Ripple legal officer said.
According to the Ripple official, Ripple has been fighting the case since Dec 2020 (a very long time) & it is acting as a benefit for the firm. Alderoty explained that Ripple is in the last phase of the legal fight with the SEC body but other crypto players are in the initial phase of the conflict with the American regulators.
Furthermore, Alderoty noted that almost all the people who were with the SEC in the lawsuit are now with Ripple & they are now reading Ripple’s playbook.
Hinman documents
Last month, the Court judge ordered the SEC body to release the Hinman documents, a document in which all the statements & emails included about the nature of Ethereum (ETH), passed by former SEC official William Hinman in 2018.
Few experts believe that Ripple defense lawyers will get huge support to fight against the SEC, on behalf of Hinman documents. While some people think that the Hinman document will not bring support for Ripple, but instead will bring more delay in the case outcome.
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