- Court to determine if Ripple can argue with the SEC over what kind of crypto asset they regulate.
- Ripple claims SEC has been secretive on the asset type they oversee.
A Manhattan federal judge has been tasked to decide whether Ripple can debate SEC about the exact type of crypto assets they regulate aside from imposing crypto enforcement actions.
Ripple claims that SEC has remained secretive to reveal the type of digital assets it regulates to the crypto space. Hence, Ripple sees this situation as an awkward movement on the part of the SEC.
Looking at the Ripple-SEC lawsuit from different perspectives, it is clear that the lawsuit is not ready to end anytime soon. This can be seen from how Ripple and the SEC keep raising new arguments to defend themselves. In contrast, this moves sideways to how the crypto space expects to see the final verdict of the lawsuit.
Since the lawsuit is still in progress, it is important to know that Ripple and XRP are not the same as they were in their previous days. Presently, XRP functions as an independent currency. However, despite Ripple and XRP being independent with each other, traders have strong belief that Ripple can win the case over the SEC.
On the other hand, many people think that the SEC might be thinking to impose stricter crypto enforcement actions and investor protection laws if it wins over Ripple.
General Counsel of Bitwise Asset Management, Katherine Dowling, expressed his opinion and emotions.