{"id":12303,"date":"2021-09-20T00:54:12","date_gmt":"2021-09-20T00:54:12","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/ripple-has-no-plans-to-settle-with-sec-over-xrp-confident-gensler-will-drop-the-lawsuit\/"},"modified":"2021-09-20T00:54:12","modified_gmt":"2021-09-20T00:54:12","slug":"ripple-has-no-plans-to-settle-with-sec-over-xrp-confident-gensler-will-drop-the-lawsuit","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ripple-has-no-plans-to-settle-with-sec-over-xrp-confident-gensler-will-drop-the-lawsuit\/","title":{"rendered":"Ripple Has No Plans to Settle With SEC Over XRP, Confident Gensler Will Drop the Lawsuit"},"content":{"rendered":"

Amid the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple\u2019s legal team reportedly said that they have no plans to settle with the securities watchdog. They are confident that SEC Chairman Gary Gensler will be convinced that pursuing the case is picking winners and losers in the crypto business to the detriment of innovation.<\/strong><\/p>\n

No Plans to Settle With SEC, Says Ripple\u2019s Legal Team<\/h2>\n

Ripple\u2019s legal team told Fox Business that it has no plans to settle the lawsuit with the U.S. Securities and Exchange Commission (SEC), Charles Gasparino reported. He tweeted<\/a> Friday:<\/p>\n

Ripple\u2019s legal team tell Fox Business they have no plans to settle with SEC over lawsuit on XRP<\/a>, confident they can show Gary Gensler in pursuing the case is picking winners and losers in the crypto business to the detriment of innovation.<\/p>\n

The SEC sued<\/a> Ripple Labs, its CEO Brad Garlinghouse, and co-founder Chris Larsen in December last year over the sale of XRP<\/a>.<\/p>\n

In January, Garlinghouse was asked why Ripple did not settle with the SEC. He replied: \u201cCan\u2019t get into specifics, but know we tried \u2014 and will continue to try with the new administration \u2014 to resolve this in a way so the XRP<\/a> community can continue innovating, consumers are protected and orderly markets are preserved.\u201d<\/p>\n

Ripple and XRP<\/a> supporters hope that the new SEC chairman, Gary Gensler, who taught crypto at the Massachusetts Institute of Technology (MIT), would throw out the XRP<\/a> lawsuit. They believe that there was a conflict of interest with former SEC Chairman Jay Clayton. In August, a government watchdog began investigating<\/a> circumstances surrounding the XRP<\/a> lawsuit involving Clayton and senior SEC official William Hinman.<\/p>\n

<\/p>\n

Gensler has shown that he recognizes innovation. During a U.S. Senate Banking Committee hearing<\/a> last week, the pro-bitcoin Senator Cynthia Lummis asked him: \u201cDo you support responsible innovation?\u201d Gensler immediately replied: \u201cOh my gosh, yes. I mean it\u2019s brought us these lights in the room. It\u2019s brought us this ability to have a hybrid hearing with your fellow members. I mean innovation is what supports access, economic activity, and give so much of us better opportunities in life.\u201d<\/p>\n

The SEC chairman has also said that Satoshi Nakamoto\u2019s innovation is real<\/a>. \u201cHis innovation spurred the development of crypto assets and the underlying blockchain technology,\u201d Gensler described, adding that \u201cit has been and could continue to be a catalyst for change in the fields of finance and money.\u201d<\/p>\n

Do you think the SEC will drop the lawsuit against Ripple Labs and its executives over XRP<\/a>? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Brad Garlinghouse, Gary Gensler, Ripple Labs, ripple lawsuit, sec lawsuit, XRP, xrp lawsuit<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple\u2019s legal team reportedly said that they have no plans to settle with the securities watchdog. They are confident that SEC Chairman Gary Gensler will be convinced that pursuing the case is picking winners and losers in the crypto business to the detriment…<\/p>\n","protected":false},"author":0,"featured_media":12304,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12303"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12303"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12304"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}