The post Bill Morgan Debunks Viral Rumors On Ripple vs SEC Case  appeared first on Coinpedia Fintech News

The ripple

ripple

m***h@ripple.com

Crypto / Blockchain SolutionPayment solution

  vs SEC legal battles continues with various rumors, speculations, and uncertainties on this matter. Previously, it was expected that the case would finally be settled in July this year, which also marks the anniversary of the previous ruling when XRP was recognized as a non-security. However, that failed to materialize and the market sentiments have rather turned negative regarding the imminent closure of the case. 

Bill Morgan Comes Forward To Debunk Speculations

Notably, Bill Morgan, a prominent XRP enthusiast and lawyer has come forward to debunk the speculations and myths around the case. He recently took to X and started the post by stating, “Time to call out more incorrect information about the SEC v Ripple case.” In the post, he responded to a post by @trump45coin. 

He highlighted that the second bullet point in the post was wrong, which stated ‘XRP is about to be the only crypto with regulatory clarity’. He stressed that the XRP token already has case decided legal clarity. According to Morgan, courts do not give regulatory clarity. He also added that whatever the judge finds on remedies, sales of XRP can still be investment contracts.

Further, he added “As to the third bullet point, there may very well be a SEC (and Ripple) appeal. It is a matter of contention and debate whether the SEC’s prospects are strong or weak.”

Also Read: Will Ripple-backed XRP Hit 50 or 70 Cents Next? Details

Donald Trump’s Promises To End The Anti-Crypto Period!

The SEC’s lawsuit against Ripple awaits a final ruling by Judge Analisa Torres. Notably, at the Bitcoin conference, Donald Trump said that the SEC Chair gary gensler

gary gensler

Gary Gensler is an enthusiastic leader and the current chair of the U.S. Securities and Exchange Commission (SEC). He has the extreme experience that spans wall street, government regulation, and an angel teaching about cryptocurrencies and blockchain at MIT. He announced several initiatives to enhance investor protections in the $2 trillion cryptocurrency market. He previously led the Biden-Harris transition’s federal reserve, Banking, and securities regulation agency review team. 
 
He was awarded Treasury’s highest honor, the Alexander Hamilton Award, and also was a recipient of the 2014 Frankel Fiduciary Prize. He was born on October 18, 1957, into a Jewish family, in Baltimore, Maryland. Graduated from the University of Pennsylvania, earning a Master’s degree in Business Administration. Additionally, he is also a professor at the MIT Sloan School of management. He has served in various governmental roles since the 1990s, such as the treasury department, Sarbanes-Oxley, CFTC, Swaps, Enforcement, Libor investigation, Maryland Financial Consumer Protection Commission, Securities, and Exchange Commission. 
 
Gary Gensler will probably keep on filling in as seat of the SEC until 2026, accepting his renunciation. He has expressed his desires to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages. A few officials as well as his kindred SEC magistrates have scrutinized Gensler for not giving adequate administrative direction on crypto, possibly prompting a standoff between Congress and the association. 
 
The SEC, CFTC, and Financial Crimes Enforcement Network handle advanced resource guidelines in the U.S., however, each with various jurisdictional cases, bringing about an interwoven methodology that crypto firms should explore to work legitimately. Whether 2022 will see a more clear way for organizations in the crypto space is questionable, yet the cosmetics of the SEC’s initiative will fundamentally change following the takeoff of chief Elad Roisman in the first month of the year. Chief Allison Lee’s term is likewise set to terminate in June 2022.

Chairman

would be fired ‘on day one’ if he is elected the President of the United States. Trump promised the attendees a new SEC Chair and an end to the anti-crypto stance of the Biden-Harris government. Trump’s win in the November elections could therefore influence the Ripple lawsuit. 

Ripple executive Brad Garlinghouse has slammed the SEC and Chair Gensler for their “regulation by enforcement” approach and a “lack of clarity on crypto regulation” in interviews, on several occasions. 

The post Bill Morgan Debunks Viral Rumors On Ripple vs SEC Case  appeared first on Coinpedia.org.