As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency community</a> awaits the conclusion of the <a href="https://finbold.com/ripple-v-sec-case-update-as-of-june-19-2023/" rel="noopener noreferrer nofollow">legal standoff</a> between the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) and <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a>, <a href="https://www.thecryptoalert.com/post/ripple-labs-to-buy-back-10-billion-xrp-from-its-circulating-supply" rel="noopener noreferrer nofollow">rumors</a> and pessimistic outcome expectations have started to spread, but so has the confusion around the conflicting statements and actions of the SEC’s leadership.And while the community around the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company, including the pro-XRP legal expert John E. Deaton, has <a href="https://twitter.com/JohnEDeaton1/status/1672750275646423040" rel="noopener noreferrer nofollow">rebuffed the rumors</a>, well-known Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) supporter Max Keiser believes that the blockchain firm <a href="https://finbold.com/ripple-cant-win-against-sec-as-xrp-is-marked-for-death-says-expert/" rel="noopener noreferrer nofollow">will not triumph</a> over the <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulator</a>, as well that the SEC would succeed in <a href="https://finbold.com/bitcoin-expert-its-a-matter-of-when-not-if-xrp-ponzi-gets-cut-down-by-sec/" rel="noopener noreferrer nofollow">bringing down</a> its “<a href="https://finbold.com/guide/bernie-madoff-ponzi-scheme/" rel="noopener noreferrer nofollow">Ponzi scheme”</a>, as <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> reported earlier.<h2 id="header-0">Calling out SEC</h2>Meanwhile, Ripple’s chief legal officer Stuart Alderoty has called out the agency for its actions, having <a href="https://twitter.com/s_alderoty/status/1670979492230369280" rel="noopener noreferrer nofollow">referred</a> to a part of the US Electronic Code of Federal Regulations (e-CFR) that pertains to ethical standards for administrative personnel in the executive branches of the government, saying that:<blockquote>“The law requires SEC employees, like all federal employees, to act (and appear to act) impartially. The law asks: Would a reasonable person, knowing the facts, question the employee’s impartiality. You now know the facts. 5 CFR 2635.101(b)(14)”</blockquote>Indeed, the quote seems to address former SEC division director Bill Hinman, whom the Ripple <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> community, with lawyer Jeremy Hogan at the forefront, has <a href="https://twitter.com/DigPerspectives/status/1669063374645108748" rel="noopener noreferrer nofollow">accused</a> of benefitting from his <a href="https://finbold.com/ripples-top-lawyer-decodes-hinman-files-what-went-on-behind-the-scenes/" rel="noopener noreferrer nofollow">controversial 2018 speech</a> in which he said that Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) was not a <a href="https://finbold.com/topic/securities/" rel="noopener noreferrer nofollow">security</a>, and alleging someone paid him to attack <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">XRP</a>.As Hogan stated:<blockquote>“My speculation is that Ripple [is saying] Bill Hinman was somehow paid, and he was paid by the Ethereum Foundation or someone related to <a href="https://finbold.com/guide/how-to-buy-ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> to give the speech, give Ethereum a free pass.”</blockquote>Furthermore, Alderoty could also have referred to the current SEC chief Gary Gensler who, according to Deaton’s <a href="https://twitter.com/JohnEDeaton1/status/1672797916702949376" rel="noopener noreferrer nofollow">tweet</a> on June 25, “has effectively refused to provide written documents, emails, and correspondence between SBFraud/<a href="https://finbold.com/topic/ftx/" rel="noopener noreferrer nofollow">FTX</a> and the SEC,” while at the same time attacking Ripple and XRP, <a href="https://twitter.com/JohnEDeaton1/status/1672797911631929346" rel="noopener noreferrer nofollow">asking</a> why the Congress hasn’t issued subpoenas, which is well in its power.<h2 id="header-1">Ripple’s expansion</h2>Regardless of the case, Ripple has continued its expansion around the world, having <a href="https://ripple.com/insights/ripple-deepens-roots-in-apac-by-obtaining-in-principle-regulatory-approval-in-singapore/" rel="noopener noreferrer nofollow">secured</a> an In-Principle Approval of a Major Payments Institution License from the Monetary Authority of Singapore (MAS) – the country’s central bank, allowing it to offer regulated <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> products and services.In the meantime, the <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP token</a>, which is at the center of the widely publicized lawsuit, is currently changing hands at the price of $0.48, recording a 1.97% decline on the day and 1.95% across the week but still holding on to the modest gains of 1.66% on its monthly chart, as per the latest data on June 26.Read more cryptocurrency news on <a href="https://finbold.com/ripple-v-sec-case-update-as-of-june-26-2023/https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Ripple v. SEC case update as of June 26, 2023

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