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SEC Asks Slack History From Ripple to Make Info as Evidence

Gaurav Roy by Gaurav Roy
August 12, 2021
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New York, USA – The case of Ripple and SEC continues to heat up as SEC requests the company to provide Slack history. Garlinghouse shares how SEC stated that Ethereum or ETH is not a security.

The lawsuit involving Ripple and SEC is considered one of the most intense cases in the digital asset industry. The conflict began when SEC specified XRP as security instead of a cryptocurrency. Also, it affects investors’ insight toward cryptocurrency, creating more confusion in the digital asset market.

As per Michael Arrington, a cryptocurrency enthusiast and a co-founder of TechCrunch, the US Sec is showing more interest in governing the crypto market instead of making clear plans on how it can support cryptocurrency developers. Support is necessary for developers when it comes to innovating without controlling hurdles.

On the other hand, the goals of SEC is different from what Arrington and the rest of the enthusiast wants. The SEC chairman Gary Gensler, stated that crypto companies should meet public goals through technologies in funding services. When the industry introduces new technologies, accomplishing core public policy objectives is a must.

Gensler also added that more regulation is necessary on different cryptocurrency markets, like decentralized and centralized cryptocurrency trading, stablecoins, DeFi, and crypto-related funding products. He stated that investor protection is not enough.

: SEC requests to gather Slack Communications of Ripple as strong evidence

On another note, Brad Garlinghouse shared that Bill Hinman, the Director of SEC’s Division of Corporate Finance in 2018, stated that ETH was a cryptocurrency, not security. Another former chairman from SEC, Jay Clinton, confirmed Hinman’s statement.

Now, SEC filed for a motion, requiring Ripple to provide the history of Slack Communication. The request targets to look for related communications between this company’s employees. As per SEC, some Slack messages give value, and these can work as evidence for the case, which the company refused to provide now.

Judge Sarah Netburn denied the request of SEC to access legal communications, as well as the motion to suppress a statement.

Ripple continues to face the allegations, insisting that the company has not done anything wrong. The company stated that XRP never held an ICO and it’s not a security.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: alt coincasecryptocurrencydecentralized tradingdigital assetETHinnovationjudgejusticelawsuitsecuritystablecointechnologytrading
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.

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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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