XRP Lawyers and Ripple Exec Share Insights on US SEC Lawsuit Result

XRP Lawyers and Ripple Exec Share Insights on US SEC Lawsuit Result

Ripple and XRP Ripple (XRP) Lawyers Criticize SEC’s Regulation by Enforcement

The United States Securities and Exchange Commission (SEC) is facing criticism from Ripple executive chairman Chris Larsen and XRP Ripple (XRP) lawyers for its regulation by enforcement policy against the cryptocurrency industry. In recent lawsuits, federal judges have deemed the SEC’s states as arbitrary and capricious, while Judge Netburn in the Ripple XRP Ripple (XRP) lawsuit was known the SEC’s positions hypocritical. Larsen is urging the United States Congress to take action and put an end to these irrational lawsuits initiated by the SEC.

The Probable End of SEC’s Regulation by Enforcement

On September 7, Chris Larsen expressed hope that the SEC’s policy of regulation by enforcement will come to an end as the courts are rejecting the SEC’s unfair approach towards cryptocurrency. Larsen likewise was known on the United States Congress to intervene and address the destructive practices of SEC Chair Gary Gensler. XRP Ripple (XRP) lawyer Bill Morgan highlighted that the SEC is consistently losing in court but continues  to appeal against rulings, describing their approach as lamentable. The inconsistent positions of the SEC have been criticized by judges in both the Grayscale and Ripple lawsuits.

Ripple’s Confidence in Victory Against the SEC

Ripple executives remain confident in their upcoming legal battle against the SEC. They argue that the SEC has failed to provide clear reasoning for their lawsuits and clarify whether existing regulations are adequate for the cryptocurrency industry. In an interview, Chris Larsen blamed the United States Government and the SEC for adopting a hostile policy that hinders San Francisco from becoming the world’s blockchain financial resources. In the meantime, the price of XRP Ripple (XRP) has experienced a slight 0.5% decrease in the past 24 hours, as of now currently worth $0.49.

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Hot Take: The Need for Clear Cryptocurrency Regulation

Although while the SEC’s regulation by enforcement policy faces backlash, it outlines the urgent need for clear and comprehensive regulations for the cryptocurrency industry. The inconsistent positions and arbitrary states made by the SEC have sparked criticism and legal battles. It is critical for the United States Congress to take a proactive role in shaping cryptocurrency policy to foster innovation and avoid further disruption. As the industry continues  to evolve, finding a balance between regulation and growth is essential for the long-term success of digital currencies like XRP.

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