🔥💥SEC submitted its final answer to the court regarding XRP and Ripple
In the case between #Ripple and the #SEC , which has been going on for more than 3.5 years, the SEC has given the court its latest general assessment of Ripple.Dec. After the "legal settlement process", which is one of the last stages of the litigation process, if the court deems it necessary, it will decide what kind of sanctions will be applied against the defendant, that is, the Ripple company.
While the lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple company in December 2020, just ahead of the bull season of the period, has been ongoing for more than 3.5 years, the SEC has submitted to the court its latest general assessment of the court's “legal settlement process” phase.
“They continue despite the rejection of the issue of fair notification”
In its assessment to the court, the SEC also touched on the issue of lack of fair notification, on which Ripple company has relied for a long time, and it was stated that Ripple is still arguing that there is an uncertainty about what status XRP will be considered, despite the fact that the court rejected this defense earlier. The SEC stated that this style of defense was not correct and objected.
The SEC claimed that Ripple is still selling XRP informally and suggested that the firm has not fulfilled most of its responsibilities since the first coin offering in 2013.
Ripple's new stablecoin may also be in danger
The SEC also claimed that Ripple also wants to issue a new unregistered coin, and “The company wants to issue another unregistered crypto asset such as XRP,” he said.
It is believed that this cryptocurrency mentioned by the SEC is Ripple's previously announced but still undisclosed fixed coin. So it seems that if this coin comes out, it will also be examined by the SEC.
On the other hand, since the case has not yet been concluded, many of the information and details in the SEC's response have not been made public as a result of the institution's censorship.
