Ripple's Alderoty Criticizes SEC's Persistent Demands Despite Allegations of Fraud.
Ripple's legal advisor, Stuart Alderoty, responded to the latest filing from the US Securities and Exchange Commission (SEC) and stated that the regulatory body is extremely disappointed.
Alderoty emphasized that Ripple is not facing a situation that would require compensation for damaged investors and that the company continues to grow.
He also noted that the SEC had given up the $2 billion penalty it had originally requested against Ripple.
Why Is the Legal Fight Between Ripple and the SEC Getting Harder?
SEC's Claims and Ripple's Counter-Arguments
The latest developments in the ongoing legal fight between Ripple and the SEC have taken an unexpected turn. Alderoty, Ripple's general counsel, argues that the SEC's aggressive stance has no basis, because there are no victims to repay, he says. Despite ongoing litigation, Ripple continues to be successful and growing in a challenging industry.
Reduction of Significant Financial Penalties
One of the most striking updates of the case is that the SEC gave up the $ 2 billion penalty it originally requested against Ripple. Alderoty argues that this change indicates that the SEC's effectiveness in the case has decreased. This development could set a critical precedent for the treatment of other cryptocurrency companies in legal and financial contexts.
