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XRP Community Calls for Investigations into FTX and Bankman-Fried

The Ripple community calls for investigations into the bankrupt FTX crypto exchange.The lawyer said the probe should benefit the regular consumer rather than the SEC vs. XRP...
XRP Community Calls for Investigations into FTX and Bankman-Fried XRP Community Calls for Investigations into FTX and Bankman-Fried
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  • The Ripple community calls for investigations into the bankrupt FTX crypto exchange.
  • The lawyer said the probe should benefit the regular consumer rather than the SEC vs. XRP type.
  • Ripple and the SEC have been in a multi-year legal battle.

Stuart Alderoty, the defense lawyer for Ripple in the case of the Securities and Exchange Commission (SEC) versus XRP, said an investigation into Sam Bankman-Fried and FTX is entirely necessary given the fallout.

Lawyer Alderoty added that the probe should benefit the regular consumer, not the type playing out in the SEC vs. XRP case due to the absence of regulatory clarity in the US.

The defense lawyer argued that the SEC’s approach to regulation over the years had been by enforcement. He claimed the regulator merely sues people after they launch a project without letting them know the rules in advance. In his words:

Regulation by enforcement has been the SEC’s go-to. The tortured enforcement process is the punishment, which is why most settle. With settlement in hand, the SEC then pretends it has lawful jurisdiction.

Interestingly, the Ripple blockchain and the SEC have been in a multi-year legal battle. On December 22, 2020, the regulator filed an action against Ripple Labs Inc. and two of its executives, who were also significant security holders, alleging that they raised over $1.3 billion through an unregistered digital asset securities offering.

For many months, the content of the SEC’s former director’s speech had been a point of contention in the legal tussle. The US commission made multiple attempts to prevent them from being used to support Ripple’s Fair Notice Defense. However, the court has set March 31, 2023, as the day for a final hearing.

The post XRP Community Calls for Investigations into FTX and Bankman-Fried appeared first on Coin Edition.

See original on CoinEdition

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01-05-2024 10:45:17 (UTC+7)

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
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SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
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