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With the legal battle between Ripple Labs Inc. and the United States Securities and Exchange Commission (SEC) is approaching its last months, the company's president, Monica Long, has stated that the firm is not planning to back down from the fight. According to a CNBC report featuring an interview with President Long, the company veteran noted that they are "planning to continue to fight the case all the way through."
Gamza KhanzadaevIn Long's assertions, the fact that the odds are currently in the company's favor following the ruling that XRP, the crypto asset under dispute, is not in itself a security is raising hopes that a major win is in the works. Ripple has indeed come a long way for a lawsuit that has lingered since the SEC brought the charges back in December 2020.
With momentous wins here and there, the company has shown grit, with a commitment to help the broader crypto ecosystem fight the regulator for its unjust crackdown on companies operating in the industry.
Long acknowledged that the XRP ruling provided the needed clarity that can help the firm expand its business in the U.S. and other markets globally.
Collective industry fight against SEC
Besides the Ripple and SEC brawl, some of the biggest industry giants are also fighting with the SEC in suits that have now extended beyond the normal civil suits to what can be described as criminal charges, especially in the case of Binance.
Godfrey BenjaminNeither of the firms in dispute with the SEC is willing to settle in what is a collective effort to stop the regulator's bullying. Additionally, LBRY, which previously bagged a loss in its securities case with the SEC, is now trying to appeal the ruling, using the confidence it gained from the latest Ripple win.
Tomiwabold Olajide
