On December 29, the XRP submitted a publication on the White House website.
10,000 more people signed the petition; 90,002 is required.
Legal proceedings opposed to Ripple Labs begin in February.
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Faced with losses after the Securities and Exchange Commission stated that XRP was a value, the XRP network is asking the US to do so. But it’s not the first time Have him claim his coin.
On December 29, a petition on the White House’s online page gave the impression related to the fate of Ripple Labs’ XRP token. The call asked the government to determine from the Financial Crimes Enforcement Network (FinCEN) that the XRP is a currency.
At the time of publication of the report, about 10,000 more people had signed the petition. To move forward, the petition wishes 90,002 signatories.
Supporters filed the petition in reaction to an action of 23 December through the Securities and Exchange Commission (SEC). The SEC accused Ripple Labs executives of promoting unregistered values (i. e. XRP). Those sales totaled $1. 3 billion, according to the charges.
Current CEO Christian Larsen and former CEO Brad Garlinghouse created Ripple to sell XRP. The SEC also accuses of unused XRP sales totaling approximately $600 million.
Garlinghouse announced the closing fees for the draw on December 22 and strongly defended its view that XRP is under attack for non-fundamental reasons. He noted that Ripple had been on the market for eight years. He also questioned the timing and motivation of the movement. The SEC, acting in the final days of Trump’s management, has left Biden’s management with the pocket of disorder.
SEC action sent shockwaves over the XRP network despite Garlinghouse’s warning. US-based exchanges have been in the process of being able to do so. The U. S. began temporarily removing or suspending XRP from its trading platforms. Not all such suspensions are in effect immediately. Coinbase, for example, will suspend trading on January 19. Bitstamp stops trading and deposits on January 8.
Outside the United States, the lives of XRP holders continue. The Australian exchange BTC Markets tweeted on December 31 that for now they would continue with the token.
If you agree, the next step for Ripple, Garlinghouse and Larsen will be February 15. The District Court for the Southern District of New York (SDNY) is providing parties to move the case to a court of first instance. however, SDNY will make a call before the trial on February 22.
On December 29, Ripple Labs posted an observation on its progression website. In this document, the team notes that most of its activities are conducted outside the United States. They also noted that XRP is legally advertised outside the United States. In addition, there is “legal clarity” related to XRP in the United Kingdom, Japan, Singapore and Switzerland.
Ripple’s team is also ahead of the new SEC team. As noted, many SEC staff members have recently left, including the president, department directors, the SEC’s leading economist, and its attorney general.
James Hydzik is an editor specializing in finance and generation founded in Kiev, Ukraine, especially interested in the progression of regulation in the face of increasingly immediate technological change. In the past he covered the EEC region for the banking and finance areas of the Financial Times. IDF magazines A strong supporter of Eastern European intestinal renewal, apartment by apartment, lately has more renovation appliances than crypto.
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