Ripple vs SEC: Lawyers Expose US Securities and Exchange Commission's Dirty Strategy

Bittime - The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) continues with increasingly heated dynamics. Responding to this case, Ripple lawyer John Deaton revealed the SEC's dirty strategy in the legal battle against Ripple (XRP). 

In recent years, this case has become a major highlight in the world of cryptocurrency. Bearing in mind, this case has a broad impact on the future of Ripple (XRP) and crypto regulations in the US.

US Securities and Exchange Commission's Dirty Strategy Confronts Ripple

Recently, a disclosure from a lawyer supporting Ripple, John Deaton, lifted the lid on how the SEC is exerting unfair pressure on Ripple and its CEO, Brad Garlinghouse, in this legal fight.

Deaton, who is known as a pro-XRP lawyer, shared his views via social media regarding what he called a “dirty strategy” implemented by the SEC against Ripple. 

Read also: Best Ripple Coin Memes on the XRP Ledger Network, Check Before They Go Viral!

Personal Attack Against Ripple CEO

According to Deaton, the SEC not only filed a baseless lawsuit against Ripple, but also made personal attacks on Garlinghouse. Even though there was no evidence of fraud or fraud in the case, the SEC still demanded that Garlinghouse hand over his personal financial details. 

This includes credit card statements, which Deaton says is an unethical and irrelevant step.

“Ripple was unfairly sued, and Garlinghouse was sued personally in a case that had nothing to do with fraud. "The SEC is playing dirty, pushing ethical boundaries," Deaton said. 

The lawyer also highlighted how the SEC has pressured Ripple's overseas customers and partners, forcing them to stay away from Ripple, which risks damaging Ripple's international business relationships.

Ripple Provides Complete Records Regarding Every XRP Transaction

In the process, even though Ripple has provided complete records regarding every XRP transaction, the SEC still asks for Garlinghouse's personal information which goes far beyond the limits. 

The decision to reveal such sensitive information has clearly drawn criticism from many, who see it as an attempt to weaken Ripple through intimidation.

However, despite facing tremendous pressure, Garlinghouse was undeterred. He and Ripple's legal team continue to fight and enforce their rights in this legal process. 

Deaton appreciated the tenacity of Garlinghouse, who did not give up even in the face of highly disruptive and excessive tactics from the SEC. In the end, thanks to this hard fight, Ripple managed to gain an initial victory in this case.

Read also: Ripple Collaborates with Chainlink So RLUSD Can Be Used for DeFi

Ripple's Relationship to US Politics

Meanwhile, public attention is also focused on the January 15 deadline, which is likely to bring major changes for Ripple. In the midst of this spotlight, a photo of Garlinghouse and Donald Trump emerged showing the two of them sharing dinner. 

This further heated speculation regarding the relationship between Ripple and US politicians. This moment could be a turning point in the Ripple legal saga, especially with several major changes predicted to occur, including the resignation of SEC Chairman Gary Gensler.

Ripple's victory in this trial is not only important for the company and XRP, but also for the entire cryptocurrency industry. This shows that even when faced with huge authorities like the SEC, crypto companies can survive and fight for justice.

FAQs About Ripple 

1. What caused the SEC to sue Ripple?

The SEC sued Ripple alleging that XRP is an unregistered security, meaning Ripple must follow regulations applicable to securities, although Ripple argued that XRP does not meet the definition of a security.

2. What impact will the Ripple vs SEC case have on XRP?

This case has had a significant impact on the price and adoption of XRP. If Ripple wins, it could strengthen XRP's position in the market, while if the SEC wins, it could affect how regulators around the world view cryptocurrencies.

3. What will happen if Ripple wins this case?

If Ripple wins this case, XRP will likely return to being widely traded without major regulatory hurdles. This could also open the door for other cryptocurrencies to operate without excessive scrutiny from the SEC.

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Reference 

Binance Square, Ripple vs. SEC: Big Appeal Coming, accessed January 8, 2025.

Coinpedia Ripple Vs SEC: Deaton Claims SEC Used Dirty Tactics, Harassed Ripple’s Customers and Garlinghouse’s Family, accessed January 8, 2025.

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