Ripple Vows to Continue Fighting SEC Lawsuit
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been a major topic of discussion in the crypto community. In a recent appeal, the SEC challenged a court ruling that determined most of Ripple’s XRP sales did not violate securities laws. However, Judge Analisa Torres ruled that sales categorized as “other distributions” were not illegal, including exchanges of XRP for goods and services.
Following this ruling, the price of XRP surged as it was seen as a victory for Ripple. Monica Long, the President of Ripple, confirmed in an interview with CNBC that they plan to fight the case until the end. She emphasized that the recent ruling provides clarity and allows Ripple to expand its business globally.
In line with this, Brad Garlinghouse, Ripple’s CEO, revealed that the company intends to hire 80% of its staff outside of the US. This move reflects their commitment to international growth.
Hot Take: Ripple’s Legal Battle Paves the Way for Global Expansion
Ripple’s ongoing lawsuit against the SEC has taken an interesting turn with a recent ruling in their favor. The court’s decision that most of Ripple’s XRP sales do not constitute unregistered securities has provided clarity for the company. This ruling not only boosts investor confidence but also opens doors for Ripple to expand its operations beyond the US borders. With plans to fight the case until the end and intentions to hire predominantly outside of the US, Ripple is positioning itself for global growth in the cryptocurrency industry.
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