- The blockchain firm, Ripple, pointed out that both the judgment protects institutions and retailers.
- Ripple sent 800 million XRP to its escrow wallet.
Ripple [XRP] finally gave an in-depth response to the partial win it had against the U.S. SEC on 13 July. Although the firm expressed its gladness shortly after the ruling, its latest Q2 market report provides a lot of clarity on certain misconceptions about the case.
How much are 1,10,100 XRPs worth today?
While Ripple published the report on 31 July, it only went public on 2 August. According to Ripple, SEC’s lawsuit against it was misguided and a “quest for political power.”
Clarifying misconceptions
However, Ripple also addressed some misinterpretations of the judgment. According to the firm, XRP is not just security in some corners but in all areas. Accusing the SEC of being a propaganda merchant, Ripple said,
“The statement that the same “thing” can be sold to buyer “A” as part of a simple buy/sell transaction and also sold to buyer “B” as part of an investment contract is a non-controversial statement of the law. What finds no basis in the law is the SEC’s propaganda to the contrary.”
Ripple also addressed some comments that pitched their tent with the notion that the judgment favored institutional investors over the retail cohort. The blockchain company explained that the sentiment was nowhere true saying that,
“Consumers need protection, but not all roads lead to the SEC. If the SEC’s overreach has exposed a regulatory gap, that g
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Author: Victor Olanrewaju
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