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Ripple Looking Forward to Working With SEC Amid Lawsuit

Ripple-Looking-Forward-to-Working-With-SEC-Amid-Lawsuit
  • Ripple is looking forward to working with the SEC despite the consecutive XRP delistings on exchanges.
  • XRP price has crashed from $0.77 on December 24 to $0.20 at the time of writing.
  • Nevertheless, Ripple said that the SEC’s unproven allegations is an attack on the entire crypto industry in the US.

Despite consecutive XRP delistings and the XRP price crash, Ripple said they “look forward” to working with the SEC.

In an official statement, Ripple said that the world has only heard of the SEC’s side regarding the lawsuit. They also said these allegations against Ripple are “unproven”.

With the Ripple lawsuit, the company stated that the SEC has attacked the entire crypto industry in the US. This affected XRP retail holders who have no connection to Ripple. Furthermore, this “uncertainty into the market” has “actively harmed” the community which the SEC was supposed to protect.

On the other hand, Ripple extended its hands to the SEC and to other concerned US regulators. Toward the end of the announcement, Ripple expressed excitement about the recent departure of some SEC leaders.

Ripple wrote,

On a parallel note, we also look forward to working with all of the Commissioners and the SEC’s new leadership, once appointed… Our steadfast commitment to constructive regulatory engagement has not changed.

Ripple pointed out that the SEC chair, including six directors from each division and the General Counsel have departed.

Meanwhile, the XRP price has crashed from $0.77 on December 24 to $0.20 at the time of writing. Many crypto exchanges have delisted XRP, a reaction deemed conservative by Ripple.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.