Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

In the backdrop of the ongoing saga between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, John Deaton, a pro-XRP attorney, condemned the SEC after the securities regulator tried to drop the disputed Debt Box litigation to avoid potential charges and penalties for deceiving the court.

SEC Backlash

The SEC admitted to making misleading representations in the Debt Box case and decided to drop Debt Box’s $50 million fraud lawsuit.

The SEC received scathing criticism from multiple federal courts, including Judge Torres, who labeled SEC lawyers as hypocrites in the Ripple action. An Appellate Court in the Grayscale case concluded that the SEC’s refusal of a spot Bitcoin ETF was unreasonable and unfair.

Coinbase CLO. Paul Grewal also slammed the SEC and its lawyers for withdrawing a complaint after harming the firms and seeking dismissal without prejudice.

“I’m sorry, so sorry
How long must you punish me?
Why can’t we just move on?
Let bygones be bygones
But you never will
What’s the difference
If this time I’m the one that did the wrong?
Should it matter?”

Dolly Parton, “Bygones.” And the SEC in its sur-reply in Debt Box. pic.twitter.com/eS6ZStxp2A

— paulgrewal.eth (@iampaulgrewal) January 30, 2024

Ripple Labs 101

XRP is a cryptocurrency that Ripple Labs uses to conduct transactions on its network.

While Ripple is a centralized fintech company that began as RipplePay in 2004, it was later co-founded by Chris Larsen and Jed McCaleb in 2012 with the vision of creating a faster and more secure way of doing transactions around the world.

Although the two have been used interc

Go to Source to See Full Article
Author: AMBCrypto Team

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details