Thu. Mar 16th, 2023

While the Ripple Coin market is on the decline, investors’ interest in the SEC litigation schedule, prospects, and results is still hot.

As of 12 p.m. on the 21st, Ripple Bank (XRP) was trading at 467 won, 0.21% behind the previous trading day.

On the 1st (local time), U.S. Attorney John Deaton, who represents the Ripple (XRP) community, refuted Michael Sailor, CEO of Micro Strategy, who claims that all cryptocurrencies except Bitcoin are in the middle.

Michael Sailor once argued that only Bitcoin can be treated as a product, and that other cryptocurrencies are securities.

In response, lawyer John Ditton tweeted, “There is a serious flaw in the analysis of judging securities.”

He added, “We committed the error of identifying all potential developers and platform founders, and this is too absurd.”

He said, “We need better analysis.”

Ripple legal adviser Stuart Alderrotti pointed out that the US SEC’s approach to cryptocurrency regulations is unreasonable.

Crypto News Flash, a media outlet specializing in cryptocurrency, said Ripple’s CEO Brad Galinghouse expressed confidence that he could win the lawsuit against SEC in the U.S.

In an interview with Exios fintech reporter, Gallinghouse reportedly expressed confidence, saying, “The law is on the side of Ripple and SEC will not be able to prove XRP as securities.”

“Even if we lose the lawsuit, we will continue to operate it,” he stressed.

In December 2020, SEC sued Ripple founders Brad Garlinghouse and Chris Larson for violating the Securities Act.

It raised $1.38 billion worth of cash by issuing 14.6 billion ripples to investors without SEC registration.

In the meantime, Brad Gallinghouse, CEO of Ripple, a blockchain overseas remittance project, said that the long legal battle with the SEC is nearing its final stage.

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