Ripple (XRP) has gained high rankings in popularity lists after winning a victory in one of the longest and most contentious legal battles in corporate history. According to the social analysis firm LunarCrush, the social discussion of the payment-focused cryptocurrency has increased following the landmark decision.In terms of social interactions, the cryptocurrency has outperformed other major assets like <a href="https://en.coin-turk.com/he-paid-120000-to-buy-156000-of-this-altcoin/" rel="noopener noreferrer nofollow">Ethereum</a> (<a href="https://en.coin-turk.com/ethereum-may-receive-a-unique-classification-hints-jp-morgan/" rel="noopener noreferrer nofollow">ETH</a>) and only trailed behind <a href="https://en.coin-turk.com/the-rise-of-bitcoin-shrimp-investors-and-the-tides-of-change/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC). Prices significantly declined after a 80% surge on the day the decision was made. Nevertheless, according to CoinMarketCap, XRP is still 50% higher than a month ago and is currently trading at $0.74.While the XRP community and crypto advocates were celebrating, voices criticizing the decision started to rise. Former Securities and Exchange Commission (SEC) official John Reed Stark expressed his concerns and made statements pointing out the fundamental flaws of the decision. The former executive of Ripple stated:<blockquote>The decision is shaky, likely to be mature for appeal, likely to result in a rollback, and not necessarily a cause for celebration.</blockquote><img src="https://academy-public.coinmarketcap.com/optimized-uploads/631c43e799d642d0880c2655953f338a.jpeg" />Stark objected to the distinction made between institutional investors and individual investors when it comes to expanding SEC protections and remedies. The decision had mentioned that XRP is a security when sold to institutional investors, not to the general public.<h2 id="header-0">Statements from Ripple&#39;s Former Executive!</h2>Secondly, he questioned the logic behind exempting token sales through exchanges from securities laws. According to Stark, the assumption that individual buyers are ignorant and know nothing about the issuer of the cryptocurrency was &#34;not just condescending, but also downright insulting&#34;.He also objected to the notion that individual investors could not know Ripple&#39;s intentions. The official argued that they have access to the same information as institutional investors. The former SEC official stated that individual investors invested in XRP because they knew it was backed by Ripple. The next course of action accepted by the SEC is yet to be determined. According to a previous report by Bloomberg, they were reviewing the regulatory decision.

Striking Statements from Ripple’s Former Executive

Innehållsförteckning

COINTURK NEWS

Andra artiklar publicerade 17 juli 2023

MOBLAND x BYTE CITY Uniting Forces: Exclusive Drops & Utilities For MOBLAND Asset Holders

Breaking: Crucial Economic Events Set to Shake Bitcoin and Crypto Markets

Uquid Announce The Integration with Trust Wallet to Power Up Web3 Shopping Experience

Outpost Season 14 - Large Explosive 17/07/23 @ 00:00 UTC FOR 24HRS

Dogecoin (DOGE) Eyes Potential 10% Upswing If This Level Breaks

Web3 Games Monthly Report: Insights, Challenges, and Potential

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!