Pro-XRP’s legal advisor, Bill Morgan, inveigh against the US Securities and Exchange Commission (SEC) for demanding $2 billion from Ripple Labs to settle their ongoing felony conflict. Morgan believes it would not make sense for Ripple Labs to pay this kind of large sum, mainly given that they’ve in large part successfully defended themselves inside the lawsuit. He questions why Ripple Labs had to pay $2 billion to the regulatory watchdog, given that they’ve already demonstrated their case.
#XRP Lawyer Bill Morgan Criticizes SEC: Questions $2B #Ripple Settlement. #FireGaryGenslerhttps://t.co/CialW6YEup
— XRP-WINS (@EdsonXRPWINS) April 21, 2024
Morgan’s comments have sparked discussions in the XRP network, with many people agreeing with his views and wondering about the SEC’s reasons. The controversy has highlighted the continued debate over the regulation of cryptocurrencies and the function of the SEC in overseeing the industry. Many are now wondering why the SEC is pushing for this type of large settlement, and some are wondering whether the SEC is being seen as fair and impartial.
After Bill Morgan spoke out for the SEC’s $2 billion call for Ripple Labs, the XRP network began to discuss the issue. @XRP4FREEDOM, a client warned Ripple’s CEO and Chief Legal Officer not to forget to pay the settlement to avoid the same legal speed and potential threats. They were puzzled by the awareness of prolonging the felony warfare, specifically after Coinbase’s latest decision to appeal a courtroom ruling, and questioned if paying the agreement might be the great option.
Coinbase’s Legal Battle with SEC Has Implications for XRP Case
Coinbase, a cryptocurrency exchange, is combating the SEC in a court docket. They’re soliciting clarity on whether cryptocurrencies like XRP may be considered investment contracts under the securities law without the contracts involved. This is a huge deal for the destiny of cryptocurrency law inside the US. People are watching intently to see what takes place.
If Coinbase loses, it may fortify the SEC’s case in opposition to Ripple Labs, who may be accused of promoting XRP as a funding contract without the right registration.
Crypto Advisor John Deaton Stands Up for Coinbase Customers in SEC Case
John Deaton is stepping in to symbolise 4,701 Coinbase customers’ criminal warfare with the SEC. He’s doing this to assist clarify whether digital belongings like cryptocurrencies have to be considered investment contracts. By representing a large organisation of clients, Deaton hopes to feature a crucial voice to the conversation about how cryptocurrencies must be regulated.
Also read: BlackRock Strategist Recommends Clients Switch from Cash To Fixed-Income Assets
