Not long ago, the SEC released a substitute report stating that it remains on the side of believing that Ripple will repeat its misdemeanors, even though the company has not caused any problems since the 2020 lawsuit. However, Ripple CLO accuses the SEC of being disloyal in applying the law.
Ripple said the organization has kept a low profile and that XRP’s legal status should not be questioned. This is the subject of the SEC’s most recent report.
Ripple has been communicating with the SEC since the XRP initial coin offering in 2013, stressing that its liability is much lower than portrayed. However, the SEC asserts that there is a distinct possibility that Ripple will resume its scheduled activities.
The SEC has made it clear that the injunction provisions do not relate to the company’s future intent to violate the law or stop fraudulent activity. This indicates that despite Ripple’s assurances that the incident will not reoccur, further illegal activity is still possible.
Despite Ripple not engaging in any additional criminal activity, the SEC maintains stoic skepticism. Stuary Alderoty, Ripple’s chief legal officer, said following the SEC’s filing that the agency was not properly enforcing the law. Experienced observers are confident that tangible results are unlikely to be realized until at least September.
Alderoty also said the SEC’s reputation can’t be tarnished any further because the agency has made it clear that it will not rescind its decisions no matter how unjust the world finds them to be.
At the same time, the value of XRP is gradually rising and is almost certain to reach $10 in the near future.