Ripple (XRP) its general counsel, Stuart Alderoty, charged the SEC for its “hypocrisy.” Citing another lawsuit before the Ripple lawsuit, Alderoty criticized the regulator, stating that its “hypocrisy is startling.”
Earlier, the top attorney accused the SEC of delaying the Ripple case and urged the agency to move the case forward quickly.
“XRP Case To End In 2023 Due To SEC Delays”
Alderoty says that despite the SEC’s delay, Ripple and the court are working diligently to resolve the issue as soon as possible. However, he believes that a solution will only be reached in 2023.
The general counsel of Ripple, in his previous statement regarding what the year 2022 will bring, said that this year deserves all the attention. cryptocurrency He stated that it will be a year in which the future of the sector will be in question. In the past year, the cryptocurrency industry has nearly quadrupled in value, while also reaching significant adoption milestones.
Alderoty claimed that technology innovation is often met with hostility in the US, adding that economic rivals outside the US are rapidly adopting digital assets, Blockchain-powered real-time payments and central bank digital currencies (CBDCs).
SEC in-house trials declared unconstitutional. get this; the SEC argued that jury trials are too slow, but then turned around and put the defendant through their private grist mill for 7 years. The hypocrisy is staggering… https://t.co/DM88HepIp8
— Stuart Alderoty (@s_alderoty) May 20, 2022
SEC Keeps Insisting on Hinman Emails
In recent updates to the XRP lawsuit, the SEC had sent a new response in support of Hinman’s letter from late April in which he insisted his emails were protected by attorney-client privilege.
In a recent response to Ripple defendants, it was stated that former SEC official William Hinman had sought legal advice from SEC’s attorneys and therefore documents were protected by attorney-client privilege and could not be presented in court.
Unaffected by the ongoing litigation, Ripple moved to cooperate with FINCI, a Lithuania-based online platform for fund transfer. By implementing this partnership, Ripple plans to create a payment corridor using the ODL platform powered by XRP so that FINCI customers can send money from Europe to Mexico.
Ripple’s ODL network currently covers 22 countries and destinations, including Mexico, Japan, Australia, South Korea, and the Philippines.
*Not investment advice.