SEC vs Ripple: Ex-SEC Lawyer Weighs in on Ongoing Legal Battle and Community Concerns
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Ripple vs SEC or XRP Holders? Ex-SEC Answers Buzzing Question As Case Awaits Final Whistle
The ongoing case between Ripple and the Securities and Exchange Commission (SEC) has sparked intense debate among XRP holders. While some are anxious about the legal proceedings, others are questioning whether Ripple’s actions align with their own interests. The recent disclosure of political donations made by Ripple executives to Kamala Harris’ presidential campaign has further heightened concerns.
As the community weighs in on this pressing matter, a former SEC attorney has stepped forward to provide clarity on the matter. Marc Fagel, a seasoned lawyer with extensive experience at the regulatory body, has shed light on the situation.
In his response, Mr. Fagel emphasized that the enforcement action against Ripple was initiated under the Trump administration, during Jay Clayton’s tenure as SEC Chair. This assertion directly contradicts claims made by some XRP holders that Gary Gensler, who took over as SEC Chair after Trump left office, had a hand in initiating the lawsuit.
Fagel further clarified that Gensler only inherited the case and that any decision regarding Ripple was already set in motion. The investigation began long before Gensler’s appointment.
While some have argued that Ripple’s close ties with the Democratic party could undermine their stance as a neutral, community-driven blockchain company, Mr. Fagel emphasized that the SEC’s actions were guided by laws and regulations, not political affiliations.
In an effort to alleviate concerns, Ripple CEO Brad Garlinghouse has recently announced that the company is closing the chapter on the lawsuit. This development has further fueled tensions within the XRP community, with many questioning whether this move would have been possible under a different administration.
The matter remains contentious, and it is essential for XRP holders to conduct thorough research before making any investment decisions.
Source: timestabloid.com
