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Ripple Lawsuit: Attorney Hogan Plays SEC Counsel Against XRP

Gaurav Roy by Gaurav Roy
February 22, 2022
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The SEC v. Ripple lawsuit has garnered the attention of the crypto space in the last months, and the wider community is being driven to learn the ‘legalese’ of how the US legal system works. The crypto community is keeping updated with all the happenings, and recently Attorney Jeremy Hogan has tried his hand at battling Ripple.

Ripple counsel’s strategy has been praised by several legal experts, most notably James K. Filan and Jeremy Hogan. Meanwhile, the SEC has also been criticized for allegedly erasing documents, contradicting themselves, delaying the conclusion, and for their suspicious handling of the lawsuit they filed.

Ripple Lawsuit- Attorney Hogan Plays SEC Counsel Against XRP

Still, the SEC’s strategy seems to be the right one, as said by Attorney Jeremy Hogan. When he was asked what he would do if he were the counsel for the SEC, here is what he said.

He says that the SEC does not have a bad strategy and that they are closely following how Judge Torres saw the case, which makes it very simple. He notes that the plaintiff’s strategy is gathering all the evidence, communicating with the judge, and saying that when people bought the digital token, the uses of XRP were limited to those that Ripple developed. He further adds that the blockchain was only looking to increase the price of XRP when they sold the token. 

However, Attorney Hogan added that the SEC is downplaying the fair notice defense. He also hypothetically argued that Ripple should have known about the Howie test way before the lawsuit was made public. The lawyer also continued to add that the SEC is keeping the section 5 violation argument simple, and the commission is definitely looking at Ripple for profit.

Ripple Lawsuit- Attorney Hogan Plays SEC Counsel Against XRP

Attorney Hogan said that this would be 100% the SEC’s approach. If they win this lawsuit, the commission will likely continue its regulation-by-enforcement approach to effectively scare everybody in the crypto space.

However, with the recent moves made by Ripple’s counsel, the chances of the SEC winning are slim. Moreover, since the last sur-reply Ripple submitted, the crypto community started backing XRP again. And with their 2022 initiatives aimed at expanding their payment ecosystem, the support for XRP from the community is likely to increase.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: XRP lawsuitXRP lawsuit updateXRP predictionXRP priceXRP SEC news
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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