- The SEC reveals its Redacted Remedies Reply Brief and supporting exhibits.
- Ripple CLO breaks down the implications and makes a response for public understanding.
- Judge will make the final verdict soon, finally ending the long-fought legal battle.
The latest update to the Ripple vs SEC narrative comes in the form of the SEC filing its Redacted Remedies Reply Brief and supporting exhibits. After analyzing the document the Chief Legal Officer (CLO) of Ripple, Stuart Alderoty makes his comments.
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In detail, Alderoty goes on to dismantle the filing and accuses the regulatory body of overreach and misinterpreting facts. He says it’s more of the same behaviour from the entity where it tries to trick the authorities instead of following the law.
Furthermore, Alderoty took aim at the SEC’s attitude towards international financial regulators, accusing the agency of disrespect and undermining their efforts in regulating cryptocurrencies. He highlighted the SEC’s disregard for established regulatory frameworks outside the US, portraying it as a hindrance to global cooperation in the crypto space.
To highlight, the SEC’s filing argues for significant penalties against Ripple, citing the need for deterrence. The agency contends that lesser penalties, such as those imposed in previous cases, would be insufficient to prevent similar misconduct in the future.
Yet, despite the challenges posed by the SEC’s reply, Alderoty shows optimism, noting that Ripple is closer than ever to putting this harrowing legal ordeal behind them. He then emphasizes Ripple’s commitment to transparency and expresses confidence in the company’s position.
In turn, his remarks have fueled anticipation from the XRP Army and the broader crypto community who await the fate of the project and its asset XRP. As the legal proceedings continue, both Ripple and the SEC await the final judgment, signaling that the resolution of the case may be imminent.
The outcome of the lawsuit holds considerable significance for the crypto industry, with stakeholders closely monitoring developments in anticipation of a final verdict. Lastly, teh crypto and XRP community eagerly await the judge’s final verdict.
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