SEC’s Lawsuit Against Ripple Might Affect the Industry as per Tom Emmer
Minnesota, USA – Tom Emmer, a Republican congressman from Minnesota, comments on the current lawsuit filed by US Securities and Exchange Commission or SEC against Ripple. Aside from that, SEC pushes Ripple to provide Slack history since Ripple agreed to it before.
The clash between Ripple and US SEC continues as SEC demands access to Ripple’s Slack Communication’s history. SEC wants this blockchain company to provide these details, which can serve as strong evidence on its ongoing case. Moreover, Ripple agreed to provide this information before, and SEC thinks that Ripple refuses to provide the data because this company had a mistake in gathering the information.
SEC filed this motion to require the blockchain company to provide a track record. It’s the reason why Judge Sarah Netbrun from New York’s Southern District ordered Ripple to provide necessary details among its employees.
SEC doubts that there are Slack messages with very crucial information since Ripple refused to do it now.
On another note, a Republican congressman named Tom Emmer, from Minnesota, had an interview with Thinking Crypto. The interview tackled the current case of Ripple and SEC, which Emmer commented.
As per Emmer, the lawsuit filed by SEC to Ripple might bring substantial allegations in the cryptocurrency market. The case was about Ripple selling XRP as non-registered securities, and he disagreed that this crypto is not a security.
In the interview, Emmer suggested that enforcement actions, like what SEC did, is not a solution to control the cryptocurrency industry. He also added that cryptocurrency lobbyists and elected leaders should conduct a discussion about this case.
Emmer had another interview, which was with Protocol. He shared identical views when he mentioned that all related institutions should discuss this case to consider a suitable regulatory framework for cryptocurrencies.
The case is still ongoing after the motion filed by SEC regarding Slack Communication’s history.
