Ripple's Chief Legal Officer Stuart Alderoty took to Twitter yesterday to express his confidence in the company's ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC).
Alderoty tweeted a summary of the latest opinion from the court, which included rulings on proposed expert opinions from both sides.
As noted by Alderoty, the court's opinion struck down the SEC's expert on "reasonable expectations of an XRP purchase," as well as their expert who claimed to know what "caused" the price of the controversial token to change.
However, Ripple's experts, who provide evidence on the company's contracts, tax treatment, accounting treatment and currency, were allowed to stay in.
Tomiwabold OlajideAs reported by U.Today, Ripple CEO Brad Garlinghouse emphasized the importance of transparency and utility in rebuilding trust in the U.S. crypto industry. He called for the industry to unite and move forward together.
Garlinghouse acknowledged the challenges the industry is currently facing, including the SEC's regulatory crackdown on cryptocurrencies.
He criticized SEC Chair Gary Gensler's push for crypto firms to register and urged regulators to properly regulate the industry. Garlinghouse cited the EU's MiCA regulations as a model that the U.S. could adopt.
In a recent interview with Bloomberg, Garlinghouse expressed his optimism that the XRP lawsuit with the SEC would be resolved this year, noting that the outcome of the case will have significant implications for the entire industry.
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov