Ripple executives have recently applauded the US court for proving that the SEC is out of control and consistently wrong on the facts and the law regarding the cryptocurrency market. The SEC has lost three crypto-related battles in two consecutive months; against Grayscale, Uniswap, and Ripple. Ripple’s Chief Legal Officer, Stuart Alderoty, highlighted that the SEC led by Chair Gary Gensler has been acting in lack of faithful allegiance to the law. Alderoty argued that the SEC has been hypocritical and the United States Justice system has proved what was already known to most investors. Ripple’s Chief Executive Officer, Brad Garlinghouse, added that the American investors did not have to resort to an expensive and time-consuming process to prove that the SEC was wrong through its inconsistent behavior.The recent rulings in the United States regarding the crypto industry have significantly increased confidence in the market, which was previously perceived as a technology to help illegal activities. Regulators are getting to understand that different digital assets are designed for different use cases. For instance, Ripple’s XRP is best suited for cross-border payments, Bitcoin is a digital gold for storing value, and Ethereum (ETH) is the king of smart contracts and DeFi ecosystems.Ripple executives have recently praised the US court for ruling that the SEC has not provided sufficient evidence for denying Grayscale Investments’ request to convert its GBTC to a spot Bitcoin ETF. The court also ruled that the agency had already approved several futures Bitcoin ETP, which are no different from the spot ETF. Ripple’s Chief Legal Officer, Stuart Alderoty, argued that the SEC has been hypocritical and the United States Justice system has proved what was already known to most investors. Ripple’s Chief Executive Officer, Brad Garlinghouse, added that the American investors did not have to resort to an expensive and time-consuming process to prove that the SEC was wrong through its inconsistent behavior.The recent rulings in the United States regarding the crypto industry have significantly increased confidence in the market, as regulators are getting to understand that different digital assets are designed for different use cases. Ripple’s CEO recently invited the XRP community for a victory celebration in New York City on September 29 and argued that XRP will remain not a security despite the SEC filing for an appeal. The Ripple legal team has opposed the request for the interlocutory appeal and argued that if approved it should run without interfering with the trial proceedings.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Stuart Alderoty, FAC, Brad Garlinghouse, Gary Gensler, FINRA |
| Companies | United States Securities and Exchanges Commission (SEC), Ripple, Grayscale Investments, FAC, United States Court of Appeals for the D.C. Circuit, CME, Uniswap, FINRA, eToro |
| Currencies | Uniswap, Ethereum, XRP, Bitcoin, grayscale. |
| Securities | None |
