While the Ripple coin price is falling slightly, investors are paying attention to the SEC lawsuit schedule and outcome prospects.
As of 4:50 pm on the 10th, Ripple is trading on Upbet at 487 won, down 0.61% from the previous trading day.
John Deaton, an American lawyer representing the Ripple (XRP) community, argued that “if the US Securities and Exchange Commission (SEC) classified Ethereum (ETH) as a security, it would be wrong.”
According to YouTube on the 4th (local time), lawyer Deaton said on Twitter that “Ethereum is an alphanumeric code (alphanumeric code) like Ripple.”
He emphasized, “Cryptocurrencies traded for 5-10 years in markets such as XRP, ETH, Algorand (ALGO), Cardano (ADA) and Stellar (XLM) should be treated as commodities, not securities.”
On the other hand, according to James K. Filan, a former U.S. federal prosecutor who has been continuously pursuing a lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) for the sale of unregistered securities, the SEC recently filed a lawsuit against Ripple. We have accepted the request for nondisclosure of personal information and personal financial information of Ripple employees who are not the parties involved.
“Any information related to Ripple employees that is not related to the lawsuit should not be taken as evidence, and their data should not be disclosed. “He filed a request for non-disclosure of data from non-parties to the lawsuit.
In response, the SEC side submitted an answer to the court, stating, “We do not oppose the disclosure of data by Ripple Labs employees who are not parties to the lawsuit.”
Meanwhile, in December 2020, the SEC sued Ripple founders Brad Garlinghouse and Chris Larson for violating securities laws.
It is said that it issued 14.6 billion Ripple to investors without SEC registration, raising $1.38 billion in cash, etc.
In the midst of this, Ripple CEO Brad Garlinghouse of the blockchain overseas remittance project said that the long legal battle with the SEC is nearing completion.