Ripple (XRP) General Counsel Reinstates that SEC Charges are only Allegations Not DeterminedJanuary 5, 2021
Ripple (XRP) are promoting themselves as being an environment friendly and sustainable Fintech solution. They have to state that they are focusing to be carbon net-zero by 2030. With customers and community members becoming increasingly environment conscious, Ripple are preparing to be in line with customer preferences in the payment systems that they provide.
Payment methods that are in use are paper money, cryptocurrencies and credit cards. Each of these methods have sustainability implications. Ripple have to state that there are differences in carbon emissions between each of these methods and that they are following the best and sustainability mode in payment.
Ripple has a Content Library, which provides content for all things Ripple. The Library talks about their customers, resources, payments network and more about their story, careers, Ripple Impact, Ripplex, Ripple Swell, SBI Ripple Asia, and the University Blockchain Research Initiative (UBRI).
Ripple and Regulatory Clarity
While Ripple have been consistently insisting on regulatory clarity, it just looks like the SEC are stepping in to the Ripple waters first. The XRP community have felt very chaotic after the SEC charges.
Stuart Alderoty, General Counsel at Ripple stated, while we would have preferred to achieve regulatory clarity through thoughtful rulemaking or legislation, it’s now up to the Courts (not Twitter “hot takes”). What hasn’t changed is our steadfast commitment to constructive regulatory engagement.
He also tweeted: “Reminder: The SEC complaint only “alleges.” Nothing has been determined. That’s what Courts are for. That’s it. That’s the tweet.”
The community discussion points to how security tokens should be registered with the SEC. XRP is not, therefore it does not qualify as a security token. The SEC is alleging it is an unregistered security token, which no US exchange has the license to trade.
Some users are worried if this will be a fairly quick resolution to this or will this be a long and drawn out process? Many predict the resolution to take place in 1 to 3 years.
The community prefer that Ripple work this out with the new acting head of SEC to get this thing resolved.
These allegations will be resolved, but the FUD has done its job. Some community members feel that if anything, this is actually good for Ripple. And that way, for once and for all this whole “is it a Security” issue will be out of the way and doors will open for XRP. Waiting for things to resolve and peace for XRP.
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Thank You, The TCAT team.