Ripple Doesn't Want To Rush To Resolve Its Conflict With The SEC

Ripple vs SEC is getting hotter (Currency)

JAKARTA – The case of Ripple and the US Securities and Exchange Commission (SEC) is still ongoing. Ripple's attorney recently revealed that it has no intention of ending the lawsuit from the SEC.

Launching Cointelegraph, Charles Gasparino as Ripple's lawyer revealed that they have no plans to settle the lawsuit from the SEC to Fox Business.

"Ripple's legal team informed Fox Business that they have no plans to settle the SEC's lawsuit against XRP, confident that they can show Gary Gensler in pursuing this case to pick winners and losers in the crypto business to the detriment of innovation," Gasparino wrote in a tweet. -his.

Previously, the SEC filed a lawsuit against Ripple Labs, CEO Brad Garlinghouse, and Ripple co-founder Chriss Larsen in December 2020 regarding the sale of the XRP cryptocurrency.

In January 2021, Garlinghouse expressed dissatisfaction with the SEC's allegations. According to him, the SEC "can't go into specifics, but please know that we have tried – and will continue to work with the new administration – to resolve this (issue) in such a way that the XRP community can continue to innovate, consumers are protected and an orderly market is maintained."

The XRP community expects Gary Gensler, the new SEC chairman and crypto lecturer at the Massachusetts Institute of Technology (MIT) to drop the lawsuit against Ripple. Ripple supporters believe there is a conflict of interest regarding the former SEC chairman before Gensler, namely Jay Clayton.

In August, government watchdogs began investigating the circumstances surrounding the Ripple lawsuit involving Clayton and top SEC figure William Hinman. The current SEC chairman, Gensler himself is touted as a pro-crypto figure. When he was asked by senator Cynthia Lummis whether Gensler supported innovation, he acknowledged that support.

“Innovation is what supports access, economic activity, and gives us many better opportunities in life,” said Gensler.

In addition, he also openly admitted that the innovations initiated by Satoshi Nakamoto had a real impact.

“His innovation drives the development of crypto-assets and the underlying blockchain technology,” Gensler explained, adding that “it has been and can continue to be a catalyst for change in finance and money,” he added.