Ripple Labs responds to SEC claims, XRP returns to 4th place by capitalization
Ripple Labs publishes comments on SEC claims
Ripple Highlights FinCEN Approved 2015 XRP Sale year.
The SEC has never formally contradicted FinCEN’s decisions or issued warnings to Ripple
Ripple Labs has officially responded to the claims put forward by the American financial regulator. the market December 23rd 2020 of the year. On Friday, January 29, 2021, the startup’s executives sent comments to the Federal District Court for the Southern District of New York (SDNY).
The SEC claims that Ripple Labs, while also current and former executives, Brad Garlinghouse and Chris Larsen, sold the unregistered securities in the form of tokens XRP $ 1.2 billion. The regulator also claims that Garlinghouse and Larsen made additional sales yet 600 million dollars for personal needs.
Ripple has prepared a thorough response on 93 pages, where point by point it broke all the SEC allegations against itself. Company chose the tactics of attack on all fronts, focusing on the features of Ripple, as well as the correlation of XRP value with other cryptocurrencies.
More Togo, The SEC’s accusations contradict the positions of other government agencies. In 2015 Network Financial Crimes Commission (FinCEN) has qualified XRP as digital currency and allowed token sales. SEC was in course of this decisions and did not mind.
The answer is the first step before two court hearings. The next major event is scheduled for February 15th. This day expires when the parties may agree on the consideration of the case in the magistrates’ court. Court always offers the parties to the conflict such a settlement, but they are must agree him. but in this In this case, neither Ripple nor the SEC expressed a desire. After that time, a conference call hearing will take place. It is scheduled for February 22.
Most likely Ripple and SEC will be communicate out of court. SEC Commissioner Esther Pearce, known as the “crypto mom”, says the Commission often settles such cases out of court..
XRP on the wave of hype
The US Senate has approved Janet Yellen as Treasury Secretary. Unlike his Yellen’s predecessor is cautiously optimistic about digital currencies generally. No specific comments, which could affect the Ripple Lab case, it did not.
Between themes, on Saturday, January 30, XRP rate rose in a matter of hours more than 60% and tested region above $ 0.51. On moment XRP / USD article writing traded at $ 0.40 and ranks fourth in the cryptocurrency ranking by market capitalization. Swift growth helped coin push Polkadot back and regain lost ground.
XRP chart Source Coinmarketcap
Some traders believe that XRP followed in the footsteps of Dogecoin (DOGE). Recall that at the end of last week cryptocurrency-meme for a day has risen in price by 1000% against the background of a pump on Twitter and Reddit.
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