Ripple president Monica Long said the company plans to fight \u201call the way\u201d against the U.S. Securities and Exchange Commission (SEC) in the lawsuit. While Ripple is not alone, crypto companies such as Binance and Coinbase are fighting against regulation by enforcement approach, seeking regulatory clarity and guidelines regarding crypto.<\/p>\n
Ripple Plans to Continue Fight Against the SEC<\/h2>\n
Monica Long, president of Ripple, in an interview with CNBC, revealed<\/a> that the company plans to continue the fight against the U.S. Securities and Exchange Commission (SEC). \u201cWe are planning to continue to fight the case all the way through,\u201d said Long.<\/p>\n <\/p>\n The U.S. SEC v. Ripple Labs<\/a> lawsuit has stretched for nearly three years after outgoing SEC Chair Jay Clayton decided to go ahead with the complaint, as well as pulling CEO Brad Garlinghouse and co-founder Chris Larsen in the case.<\/p>\n Judge Torres handed Ripple Labs and its executives a partial win in the lawsuit, stating that programmatic sales of XRP are not a security, but institutional sales are investment contracts. In fact, XRP in itself is not a security.<\/p>\n The SEC seeks an interlocutory appeal on the ruling<\/a>, saying that the Howey test<\/a> for securities proves it otherwise. Meanwhile, federal judges have called the SEC\u2019s approach arbitrary, capricious, and hypocritical<\/a>.<\/p>\n <\/p>\n In addition, Monica Long asserted that the ruling helped bring some clarity to the crypto industry and making Ripple expand its business globally. Ripple will continue to prove the SEC\u2019s hypocrisy as it prepares for trial in 2024<\/a>.<\/p>\n \u201cWe also got clarity in that lawsuit. And the judge\u2019s order in that case said very clearly XRP in and of itself is not a security, which kind of opens the doors to us to really expand our business \u2014 not just in the U.S. but even more globally.\u201d<\/p>\n<\/blockquote>\n <\/p>\n Ripple continues to expand XRPL and XRP use cases in cross-border transactions. It\u2019s also used by some countries for its CBDC study and research.<\/p>\n Read More: <\/strong>Ripple Is Now Hiring 80% Of Its Staff Outside the US, Is SEC to Blame?<\/a><\/p>\n XRP fell below the key support level of $0.50 amid selloffs due to uncertainty in the crypto market. It is down 6% in a week.<\/p>\n XRP price<\/a> jumped 1% in the past 24 hours, but losing its earlier gains. The price trades at $0.47, with a 24-hour low and high of $0.471 and $0.484, respectively. CoinGape Media earlier reported<\/a> a possible fall to $.42.<\/p>\n Also Read: Binance.US Cuts Down Staff By 100 Positions Amid SEC Crackdown<\/a><\/strong><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n\n
XRP Falls Below Support<\/h2>\n
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