Crypto Journalist Discusses: “Who Will Win? Ripple Vs SEC”
Coin Edition -
- Crypto journalist Eleanor Terrett publishes an article on SEC vs. Ripple Case.
- Terrett observes that the verdict may come at a pivotal time for the crypto industry.
- “Ripple will not back off, but will the SEC take the win?” asks Terrett in her latest op-ed.
Crypto journalist Eleanor Terrett tweeted about her new feature piece titled, “SEC vs Ripple: verdict could come at a pivotal time for the crypto industry.” The featured article discussed the unphased spirit of Ripple, the currency exchange firm in its battle with the US Securities and Exchange Commission (SEC), and what the outcome will mean to the crypto industry.
NEW from me: SEC vs. Ripple verdict could come at pivotal time for crypto industry@SECGov @Ripple @bgarlinghouse @Marc_Fagel @PerianneDC @DigitalChamber https://t.co/QC34AJzRvL
— Eleanor Terrett (@EleanorTerrett) March 21, 2023
According to the Fox Business article, Terrett pointed out the tactical placement of Ripple’s sponsored billboard in the Union Station Washington DC, which carried the message “Crypto Means Business.” This large billboard is placed on the route of commuting securities lawyers who take their way to the US SEC headquarters.
As the SEC has been embroiled in a lawsuit with Ripple for nearly two years, Terrett observed:
The ad in Union Station is not just a way for the company to tout its product — it’s also a clear message from Ripple to the SEC that it’s not backing down.
The outcome of the case could decide the scope of crypto enforcement proposed by SEC Chairman Gary Gensler and whether the SEC’s test for classifying securities should be applied to digital assets.
As per the report, In 2020 the SEC pressed charges against Ripple and its executives, claiming that they had breached securities laws by utilizing the digital token XRP to finance their business. The SEC asserted that XRP ought to have been registered as a security, while Ripple argued that XRP is not a security and that the sales were fully legitimate.
As for Gensler, the reports suggested that the SEC chairman had agendas of his own. All of which the “Crypto business had been left in a regulatory void.” Terrett in her article anticipates that the “legal quandary will soon draw to a close.” A key ruling by the federal district judge from Manhattan, Analisa Torres, on summary judgment could be made in the coming days.
Terrett ends her piece observing that the ruling could either give Ripple or the SEC a victory. She adds, “As many factors like the unsurety of judge’s favor, the May implosion of the blockchain platform Terra , the November collapse of the FTX crypto exchange which led to the indictment of its founder Sam Bankman-Fried on fraud charges,the collapse of the two largest crypto-friendly banks, Silvergate and Signature, could also have an impact on the final outcome.”
The post Crypto Journalist Discusses: “Who Will Win? Ripple Vs SEC” appeared first on Coin Edition.
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