fxs_header_sponsor_anchor

Ripple reveals strategy to fight SEC’s delay tactics, XRP price struggles to recover

  • The US Securities & Exchange Commission’s lawsuit against Ripple labs is a long battle, and the regulator has new delay tactics. 
  • Ripple’s lawyers are working on a strategy to fight the SEC’s tactics that delay the lawsuit against the payment giant. 
  • Ripple’s team argues that the SEC’s public enforcement actions on cryptocurrencies, filed before the lawsuit, should not be considered.

Based on the latest SEC vs. Ripple lawsuit developments, proponents believe that the regulator is employing delay tactics. Ripple’s team of lawyers oppose the SEC’s inappropriate request. 

SEC deploys delay tactics in lawsuit against Ripple

The lawsuit against payments giant Ripple has raised concerns among XRP holders. The US regulatory watchdog has filed a ‘Sur-Sur-Reply’ on February 23, 2022, regarding a motion to strike Fair notice defense. 

Proponents have reviewed the new update on the lawsuit against the payments giant Ripple and believe that the regulator is employing delay tactics. Ripple’s team of lawyers believe that the SEC is misleading the characterization of its prior enforcement actions on cryptocurrencies. 

On February 10, 2022, Ripple’s team of lawyers filed a Sur-Reply on the SEC’s motion to strike the Fair Notice Affirmative Defense. The payments giant’s objective is to oppose the regulator’s inappropriate request for judicial notice. 

Ripple’s response to the SEC’s actions strikes an affirmative defense alleging Ripple’s unregistered offers and sale of digital assets, not amounting to fraud. 

James Filan, a defense lawyer and Ripple proponent, recently tweeted about Ripple’s response to the SEC’s update on the lawsuit. 

Ripple’s team of lawyers filed a response to the SEC’s update within hours. The filing was expected to delay the outcome of the SEC vs. Ripple case; however, the regulator attempted to introduce new material and an argument based on a pre-decided case. 

Proponents note that a trial would have offered a different outcome to the SEC vs. LBRY case. 

FXStreet analysts believe XRP has developed a bullish continuation pattern before breakout to $1. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.