Prometheum founder Aaron Kaplan recently said in a live broadcast that the US regulator SEC will win the lawsuit, which has been ongoing since 2020. A former SEC executive suggests that the Ripple case will be finalized in a few days.
Aaron Kaplan awaits verdict against Ripple
Aaron Kaplan, founder and co-CEO of Prometheum, touched on the SEC-Ripple case in his recent statements. In an interview with Daily Drop, he said he will win the SEC’s lawsuit against leading blockchain firm Ripple. According to Kaplan, “I predict the SEC will win this Ripple case. Because every indicator points to a decision in favor of the commission.”
According to Kaplan, the ongoing Ripple lawsuit is similar to the one the SEC has filed against open-source content distribution company LBRY. Kaplan noted that the judge in the LBRY case ruled that the company violated securities laws by selling LBRY Loans (LBC) without registering with the commission. He added that the facts in the ongoing Ripple case are similar to the LBRY case, so he expects the same outcome.
Ripple community reacted
Kaplan’s community garnered an immediate reaction from the Ripple community. Many community members claimed that Kaplan was biased in not emphasizing the difference between the LBRY and Ripple cases:
Is it just me or Kaplan looks like a “poster boy” for scammers!
CryptoLaw, a regulatory news outlet founded by attorney John Deaton, also shares the same sentiment. According to CryptoLaw, Kaplan is only focusing on cheering the SEC as he doesn’t understand anything about the Ripple lawsuit.
Aaron Kaplan supports Gary Gensler’s policies
It’s worth noting that Kaplan’s weight is pro-SEC. Speaking before the House Financial Services Committee earlier this week, Kaplan broadly supported the regulatory policies of SEC Chairman Gary Gensler. Specifically, at the June 13th session of Congress, he reiterated his support for Gensler, stating that contrary to the opinion of other witnesses, the current securities laws are sufficient to regulate the crypto industry.
“Ripple and SEC lawsuit will be resolved within days”
Elsewhere, former SEC executive Marc Fagel suggests that the final decision is imminent. Fagel said on Twitter that the adjournment of the trial would strengthen his argument that the judge was influenced by the public’s reaction. He also suggested that this would lead to speculation that he was deliberately promoting further uncertainty.
Fagel also explained that Ripple, the company behind XRP, is different from other recent SEC sanctions. He argued that the judge could only treat the Hinman documents as an individual opinion. cryptocoin.com As we have reported, the Hinman documents went before the public last week. The acceptance of these documents is very important for Ripple.
Finally, Fagel wrote that he expects the decision to come out in a few days. The judge’s statement that he can only view the Hinman documents as an individual opinion is another argument against Ripple.
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