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The Division Between XRP and Securities & Exchange Commission

Gaurav Roy by Gaurav Roy
May 1, 2022
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BROOKLYN, New York – You might have heard about the lawsuit case filed by the Securities and Exchange Commission against XRP and its two executives, Brad Garlinghouse and Chris Larsen. No concrete resolution has been made yet, and it is most likely that the case will continue until next year. Progress to this case has been noted, though, as deadlines for several briefings have been drawn already. Nevertheless, it is still not easy to conclude who will win this battle.

Since this case started, both the SEC and Ripple have had small victories in their belts. However, this case has elicited interest from the public since it is one of the rare occasions when a defendant fights their way against the SEC.

The Division Between XRP and Securities & Exchange Commission
A person playing chess holding a chess piece and another that is tumbling

Typically, the SEC would file a lawsuit when they know that the odds are on their side. And typically, the defendants would agree to reach a settlement rather than fight for their case since the penalties and the fees for the process itself are worth tons of money, which would mean a loss of resources on the defendants’ side. However, Ripple chose to argue their way, which might open doors for a proper litigation process for all the other assets in the cryptocurrency market under the SEC’s watch.

The Division Between XRP and Securities & Exchange Commission
A photo of several documents bound together by a black thread

The XRP stands strong on the idea of Bill Hinman’s given statement in 2018 about Ethereum not being a security. It gave Ripple the upper hand, demanding access to some of the internal deliberations that have happened in the SEC.

Experts’ opinions are also torn on who is likely to win this case. According to crypto attorneys Preston Byrne and Anderson Kill, XRP is still not meeting the “qualifications” regarding the Howey Test, a four-part assessment established by the Supreme Court to identify if an asset – digital or not – is a security or not.

There will still be a lot of unfolding that will happen in the upcoming days, so stay tuned.

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Gaurav Roy
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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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