Ripple said it will continue to stand its ground irrespective of the SEC’s appeal application. With strong words from the president, CEO, and legal arm, where's this lawsuit headed?
However, according to Long, the SEC’s appeal application would not deter Ripple from standing its ground. In the 11 September
, Monica said that Ripple was not concerned about the longevity of the case. Rather, it was only focused on proving that the initial judgment was a fact.“We also got clarity in that lawsuit. And the judge’s 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 — not just in the U.S. but even more globally.”
Since the SEC publicly revealed that it would file an appeal, there has been speculation that Ripple might settle. Some other corners said the blockchain firm might back out of the lawsuit. However, that has not been the case. On 29 August, CEO Brad Garlinghouse opined that the SEC was acting out of control despite the facts brought to the court.it’s sad that so many in the US crypto community have to resort to the legal process to prove this SEC is out of control and consistently WRONG on the facts and the law.
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