According to reports, the ongoing case between Ripple and the Securities and Exchange Commission (SEC) has been continuing its fiery battle. According to the SEC, Ripple is being charged with selling unregistered securities valuing over $1 billion. The legal proceedings following Ripple have garnered plenty of attention from both the media and cryptocurrency enthusiasts alike, and many suggest any ruling would be a catalytic moment for cryptocurrency.
The CEO of Ripple, Brad Garlinghouse, recently shared in an announcement that the SEC had failed to provide clarity for its crypto guidelines and regulations. Garlinghouse further added the SEC has forgotten what its role is when it comes to safeguarding investors. Despite the SEC perpetuating its legal pursuit of Ripple, the XRP network continues to provide services and is trading XRP. In other nations, authorities have taken further considerations to strengthen protections against some cryptoassets.
Ripple is an open-source platform that provides developers and businesses with the opportunity to utilise their technology in their payment infrastructure using the XRP Ledger. Through their low-cost, secure and fast transaction system, XRP presents itself as a strong candidate for cross-chain and international payments. The price to buy XRP has fallen significantly this week to $0.92, but this price is still considerably more than the price during the initial SEC lawsuit when the price was around $0.50.
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