Ripple Vs SEC Case Was Meticulously Planned From The Beginning?
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Crypto enthusiast and commentator, Nick Crypto Crusader, recently provoked a buzz in the digital currency sphere with a bold claim. In a captivating revelation, he contends that the ongoing legal dispute between Ripple Labs, the company behind the XRP cryptocurrency, and the U.S. Securities and Exchange Commission (SEC), was not a sudden occurrence but rather a meticulously devised strategy that began its inception from the start.
In my opinion the #Ripple v. #SEC lawsuit has been planned since day one.
October 2020, Brad Garlinghouse: ‘We’re Asking for a Level Playing Field’ – calling for a “single national regulatory framework.”
February 2023: FSB, IMF, & BIS working on a global regulatory framework… pic.twitter.com/YQlQCrjDGB
— Nick | Crypto Crusader (@NCashOfficial) July 11, 2023
A Meticulous Plan in Action?
Nick Crypto Crusader’s unique perspective is grounded in a sequence of key events. He brings attention to October 2020 when Ripple’s CEO, Brad Garlinghouse, sought a comprehensive, unified national regulation for cryptocurrencies.
Fast forward to February 2023, the Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) initiated a collective effort to develop a universal regulation for cryptocurrencies, projected for release between July and September this year.
Involvement in International Regulations
Intriguingly, the expert further highlights that Ripple had a say in these international regulatory discussions surrounding crypto-assets in December 2022.
This involvement happened parallelly as Ripple continued its legal battle with the SEC over whether XRP can be classified as a security. A phrase, “level playing field,” recurrent in Ripple’s responses, encapsulates the vision of a globally consistent crypto regulation, minimizes potential fragmentations, and establishes a robust regulatory framework.
Nick’s assertions have elicited diverse reactions from the crypto community. A section of netizens concurred with his viewpoint, arguing that a drawn-out legal wrangle is part of the grand plan and coinciding with a robust bull run could lead to substantial profits.
Will Ripple Dominate the Future Crypto Market?
Others expressed skepticism over XRP’s availability to retail investors post-resolution. The notion of Ripple becoming a mammoth capital entity exceeding Apple, should XRP reach all-time highs, stirred up some skepticism. Despite the high transactional utility of XRP, with each token potentially reusable up to 20,000 times per day, some users capped their expectations of XRP’s peak value at $100.
Filed under: Bitcoin - @ July 12, 2023 10:25 am