XRP Holder’s Lawyer Denies Insider Information
John Deaton, a lawyer representing XRP holders, has denied claims that he has insider information about Ripple Labs. Deaton is known for being an advocate for XRP and having deep insights into the industry. Recently, he shared news that Ripple Labs would be hiring more staff in Dubai, Singapore, and London to expand its presence in Asia and Europe.
However, one crypto enthusiast misinterpreted Deaton’s message, claiming that he had inside information about Ripple’s expansion. In response, Deaton clarified that he never made such claims and that he was only present at a conference where Ripple’s CEO Brad Garlinghouse publicly announced the company’s expansion plans.
Ripple’s Expansion Highlights Regulatory Dispute
Deaton’s statement about Ripple’s expansion further emphasizes the company’s intention to operate outside of the United States due to its ongoing regulatory dispute with the Securities and Exchange Commission (SEC). Earlier, Ripple Labs announced that almost 80% of its new hires would be outside of the U.S., supporting Deaton’s claim.
Garlinghouse explained that governments in Hong Kong, Singapore, the UK, and Dubai are partnering with the industry and providing clear rules for growth.
Ripple vs SEC Lawsuit Continues
The SEC has been pursuing a lawsuit against Ripple Labs for nearly three years, alleging that XRP is a security. While a judge ruled in favor of Ripple on July 17th, stating that XRP is not a security, the SEC is seeking an interlocutory appeal to have the decision re-examined by an appellate court. The motion has been approved by the judge, and the community is closely following developments in the case.
Hot Take: Ripple Expands Amid Regulatory Dispute
Ripple Labs’ decision to expand its operations in Dubai, Singapore, and London reflects its determination to navigate the regulatory challenges it faces in the United States. The company’s CEO, Brad Garlinghouse, has highlighted the support and clear rules provided by governments in these regions. As Ripple continues to grow internationally, its ongoing legal battle with the SEC adds further complexity to the situation. XRP holders and industry enthusiasts are eagerly awaiting the outcome of the interlocutory appeal and closely monitoring any updates on the lawsuit.
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