SEC’s Positions and Controversies
The U.S. Securities and Exchange Commission (SEC) recently responded to Ripple’s supplementary authoritative statement on the Binance verdict. Ripple cited the Binance ruling in its statement opposing harsh penalties, arguing that the ruling supports its position. However, the SEC emphasized that the Binance judgment is not relevant to the current motion to remedy the situation.
According to documents shared by prominent defense attorney James K. Filan, the SEC countered that Ripple’s attempt to use a single observation in the Binance ruling to argue against harsh penalties was inappropriate. The SEC noted that Ripple ignored relevant portions of the judgment that could have a significant impact on the determination of remedies. The SEC said: “The Binance Court held that although the fair notice defense was an objective investigation, the defendants had been informed that the SEC might pursue their liability, similar to the situation with Ripple.”
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The legal dispute sparked a strong reaction from the $XRP community. Prominent community member Ashley Prosper questioned why the SEC spent an entire paragraph discussing the fair notice doctrine, arguing that Ripple failed to mention this in its statement. He further criticized the SEC’s recent legal setbacks and called on Judge Analisa Torres to consider Ripple’s additional authority to strengthen the ruling on a potential SEC appeal.
Wall Street analysts back Ripple
At the same time, Wall Street analyst Linda Jones said in a podcast called Good Morning that Ripple may play a role similar to the Federal Reserve in the future emerging financial system. Jones believes that the BRICS alliance is working to move away from the dollar standard, which will have potential consequences for the U.S. economy.
She noted that the BRICS alliance was not opposed to the United States but to central banks and their model of single currency control of the global economy. Jones further speculated that the new monetary system could be backed by gold or other assets, emphasizing the need for a financial system backed by real assets that would move away from the current fiat banking system that relies on the U.S. dollar.
In this context, Jones likened Ripple to the new Federal Reserve, pointing out that this system requires a transparent, audited and accountable entity. She explained that Ripple’s XRP Ledger blockchain technology is at the forefront of this new system, which stands in stark contrast to Bitcoin’s anonymous founders.
Ripple’s future prospects
Jones said Ripple’s transparency and accountability make it an ideal candidate for the new financial system. She emphasized that changes in this system will not mean the decline of the United States, but will help the United States maintain its leadership position. She also emphasized that XRP Ledger will become the basis for the future operation of the financial system and is confident that the U.S. dollar will not completely lose value during the transition period.
As Ripple President Monica Long recently shared, Ripple’s focus has shifted from just serving cross-border payments to becoming a comprehensive enterprise blockchain infrastructure provider. They have established an infrastructure to support the connection between blockchain and traditional finance and are able to provide services in more than 80 markets around the world. More and more companies have chosen to cooperate with Ripple.
Overall, Jones foresees the emergence of a parallel financial system powered by XRP Ledger, which will allow Ripple to play a key role in the future of global finance. As markets and regulations develop further, Ripple may become an important force in the emerging financial system.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
