Barely Spot Bitcoin ETFs Accepted, SEC Reattacks Ripple and Its XRP


The fighting continues. There statement made by Gary Genslerpresident of the Securities and Exchange Commission (DRY), following his (reluctant) approval of 11 spot Bitcoin ETFs left no doubt: he and his institution were going to continue their war against cryptocurrencies. The very next day, January 11, 2024, the SEC thus renewed its attack against Ripple.

Gary Gensler continues his legal harassment against Ripple

The United States Securities and Exchange Commission is still seeking sanctions and fines for the issuance of the XRPwhich she still considers as a security not registered – despite his numerous legal defeats in this matter.

The SEC therefore filed a new request with the Southern District Court of New York, in which the company Ripple Labs is still asked for additional documents by the SEC.

Ripple is thus ordered to produce two types of additional documents: its financial statements (financial statements) for the years 2022 and 2023 on the one hand, and his contracts subsequent to the SEC complaint and concerning “institutional sales” on the other hand.

The SEC continues its attacks against Ripple and its XRP.
Excerpt from the SEC’s new filing against Ripple. – Source: storage.courtlistener.com

XRP issuer asks for 2 more days to respond to this new SEC attack

While Ripple only had until Wednesday January 17 to respond to this request filed on January 11, the crypto company requested 2 days additional proceedings to Judge Sarah Netburn.

Thus, the XRP issuer would have until Friday January 19 to prepare counter attackbecause Ripple do not wish – in short – having to pass on all this paperwork on the sole desire of the SEC.

Stuart Alderotythe legal director (CLO) of Ripple, did not go out of his way to describethe aggressions » of the American regulator and its Commission against the crypto sector, following their approval (capitulation) on Bitcoin ETFs.

“The fight to the death (battle royale) by Gary Gensler against crypto has turned the SEC into a caricature that the public, policymakers, and judges should not trust. »

Stuart Alderoty, CLO of Ripple

Because despite many commissioners less sectarian that Gary Gensler – like Commissioner Hester Peircefavorable to innovation – the Securities and Exchange Commission remains for the moment one war machine aimed at the crypto-asset sector. But the latter, after his victory on ETFs spot of Bitcoin, intends to put the cover back against the SEC, with Ethereum spot ETF next May.





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