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Ripple (XRP) vs. SEC case: A picture that speaks a thousand words

Wed 20 Sep 2023 ▪ 3 min of reading ▪ by Ariela R.
Crypto regulation

In a matter of minutes, the image of Brad Garlinghouse standing in front of the SEC headquarters with Ripple’s General Counsel, Stuart Alderoty, went viral within the crypto community. The photo appears to highlight the ongoing tensions between Ripple and the SEC.

Standoff with Ripple (XRP) and SEC Logo

In brief:

  • Brad Garlinghouse posts a photo that illustrates the Ripple vs. SEC case very well,
  • The future of XRP remains uncertain.
Crypto company Ripple (XRP) CEO Garlinghouse in the spotlight with a photo taken outside the SEC headquarters

The picture taken in front of the SEC speaks volumes about the Ripple vs. SEC case

On September 20th, Brad Garlinghouse posted a photo in front of the SEC headquarters. In the photo, the CEO of Ripple (XRP) is seen alongside Stuart Alderoty, the general counsel of the crypto company. Both are shrugging while wearing enigmatic expressions.

This photo quickly went viral, generating massive interest within the crypto community. Indeed, the image garnered nearly 9,000 likes and over half a million views just hours after being posted on the X platform (formerly Twitter).

For many members of the crypto community, the seemingly innocuous gesture by the CEO of Ripple (XRP) symbolizes the ongoing tensions and legal disputes between Ripple and the SEC.

Despite an Initial Victory, the Future of Ripple’s XRP Crypto Remains Uncertain

Today, the question of whether Ripple’s XRP crypto should be considered a security or not still looms.

Judge Torres recently ruled in favor of Ripple, stating that the sale of XRP on crypto exchanges does not equate to investment contracts. In other words, Ripple does not violate U.S. securities laws in any way. However, as expected, the SEC has appealed against the crypto company Ripple (XRP). The crypto regulator is now advocating for a stricter classification of XRP as a security.

Legal experts and analysts also hold differing opinions on this matter. Some believe that the judge’s decision is a step toward clearer crypto regulation, while others argue that it does not fully resolve the issue.

As a result, the future of Ripple’s XRP remains uncertain. According to current crypto prices, it is trading around $0.52.

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Ariela R. avatar
Ariela R.

Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.