ripple, US Securities and Exchange Commission (SEC) He is still fighting the lawsuit filed by. The lawsuit, which was filed in 2020, seems to be very close to the end, although it still continues, even after a long time. Ripple thinks that two documents from 2012 will change everything.
SEC Is Cornered
It is known that Ripple has been on the attack recently. The key defense made by Ripple was that they did not know that XRP could be a security and were not warned about it. Ripple co-founder Chris Larsen in 2012 He had received legal advice on XRP, and now that advice may come in handy. Larsen received legal advice from two unnamed lawyers, who filed a report that XRP sales would not be considered securities.
The SEC, on the other hand, claims that Ripple actually knows that XRP is a security, yet they sell $1 billion in XRP. Ripple General Counsel Stuart Alderoty In his statement on the subject, he emphasized the importance of these two documents. Alderoty emphasized that when these two documents were published, it would be understood that Ripple received legal advice in 2012 and that XRP was not a security.
SEC Objected
Stating that the SEC has been researching for 8 years and has increased the use of XRP in the meantime, the lawyer also stated that the SEC should notify themselves. Judge Torres, who is presiding over the case, also requested that these documents be examined yesterday. The SEC objected to this and stated that it contained very sensitive information. If this appeal turns out to be negative, the light at the end of the tunnel can be seen for Ripple.