The hype surrounding the lawsuit between Ripple (XRP) and the SEC continues. After many months of quarrels and lawsuits, the outcome could soon take place. If until now the American regulator seemed to have the advantage, things are changing and the power of the SEC on the crypto markets could suffer.
Ripple (XRP) vs SEC, towards imminent disaster?
The lawsuit between Ripple and the SEC is coming to an end. But while the outcome is closer than ever, the Securities Exchange and Securities (SEC) does not seem in a strong position. On the contrary, the crypto regulator faces a major defeat against enterprise blockchain innovator Ripple Labs. Recall that the US crypto market regulator filed its complaint against the crypto company and its two senior executives in December 2020.
The SEC’s allegations stipulated that XRP was nothing more than an investment contract that the company uses for its payment software. Today, almost two years later, the case is still ongoing and the instigator of the trial no longer knows which saint to turn to. Faced with all the threats hanging over him, the San Francisco-based enterprise blockchain innovator decided to fight back.
And with it, thousands of users who have nothing to do with society but who are collateral victims. Now that both parties have reached the end of an exhaustive discovery phase, Ripple is arming itself more than ever and showing its aggressiveness to win this lawsuit. Indeed, the crypto business has launched a robust set of arguments while the SEC side is accusing a warmed-up version of its initial complaint.
Moreover, after almost two years, the expert of theregulatory body finally stated that the market value of XRP is in no way associated with the performance of Ripple.
The further the lawsuit progresses, the more legal experts predict Ripple will win. In this case, the SEC had no allies and its own witnesses turned against it. If Ripple wins, the SEC could significantly lose its crypto regulatory power in the USA.
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