Ripple (XRP) lawsuit: Is it a SEC stunt?

The lawsuit between Ripple (XRP) and the SEC has been swaying in the crypto space for some time now. The Securities and Exchange Commission, known as the US regulator par excellence, seemed to be in a strong position since the start of the experiment. However, a new piece of data disrupts its course. A letter attributed to a former Securities and Exchange Commission official is controversial, and is strongly receiving the attention of the judge in charge of the case. The extents this might take are still unknown, but it seems clear that the consequences for the remainder of the trial are inevitable.

  • Questionable group call
  • A difficult step backwards for the SEC?
  • Ripple (XRP) Builds Partnerships Despite Its Lawsuit

Questionable group call

It all starts with a conference call that can be described as sensitive. It happened between former SEC official William Henman and his legal department four years ago. According to the judge in charge of the case, Netbourne, the recordings from this call could clarify the SEC’s intentions, and should therefore be the subject of clarification. The goal is to determine what advice former manager Hinman received, and more importantly for what purpose.

The Securities and Exchange Commission defends itself by asserting that this advice was merely lambda legal advice, without any particular scope. Also, according to the Securities and Exchange Commission, the only topic discussed was the enforcement of laws related to the security of crypto-assets, and this “In a very legal speech”. A statement that apparently did not convince Judge Netburn. The latter interrupted the SEC’s argument midway through the trial. He asked the Securities and Exchange Commission to confirm what he had just heard, namely that the purpose of former Director Hinman was not simply to obtain legal advice, but rather to ensure clear consistency. Then the Securities and Exchange Commission answered in the affirmative.

A difficult step backwards for the SEC?

Benefiting from an unparalleled reputation and authority in the United States, the Securities and Exchange Commission generally occupies a position of strength in its various lawsuits. This has been the case in Ripple’s (XRP) lawsuit, at least since its opening. Recently, this transformation has been echoed everywhere in the press.

When excerpts from the conference call between the Securities and Exchange Commission and its former director, William Hinman, were made public, the course of the trial was affected and changed direction. Now, the spotlight is no longer just on Ripple. The slightest business, exchanges, and even the intentions of the famous Securities and Exchange Commission begin to peel and question. According to experts from the legal world as well as the crypto world, this is a serious step backwards for the SEC. The objectivity and transparency of his intentions are carefully reviewed by the judge. However, this obviously brings back the advantage of Ripple.

Until then, the Securities and Exchange Commission had successfully banned franchisees from participating Code At trial, undoubtedly afraid of the effect. However, this reversal of the situation may prompt the judge to reconsider the question, and the owners Code It can be opened for trial. This will only further deteriorate the SEC, and shake the future of this issue.

Ripple (XRP) Builds Partnerships Despite Its Lawsuit

As a rule, a suit is not synonymous with good publicity. Legal problems tend to alienate collaborators, investors, and partnerships. Surprisingly, Ripple seems to be the exception to the rule. Since opening the lawsuit against the SEC, Ripple has not had to complain about huge losses in terms of partnerships, quite the contrary. Officially, Bexs Pay is the entity that has taken over management of over 54 million Nubank customers in terms of cross-border payments. However, Bexs Pay has integrated RippleNet since 2017.

This constitutes a very large partnership for Ripple (XRP), whose business continues to thrive despite the ongoing lawsuit. This is only the beginning. Several other remittance companies have already approached Ripple to establish partnerships. Besides this aspect, it is also interesting to note that Ripple intends to roll it out to the public once the trial is over. Coincidence ? Hard to believe.

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