There have been rumours of the crypto company reaching an agreement with the regulator. Recently Ripple Labs has come out to deny any plans to settle with the US Securities and Exchange Commission out of court
Reporter: Ripple With No Plans to Resolve Disagreement with SEC
The legal team of the crypto company assured a news media that there is no plan to resolve its disagreement with the US regulator in a Twitter post by Charles Gasparino of Fox Business Network
In another tweet by the media reporter in which he retweeted the Chairman of the SEC’s post. Which he stated that people who know him say the possibility that he will give up his power or cooperate to integrate the crypto industry into the new regulatory system is almost nil.
In addition, the reporter said that for the regulator’s chairman to integrate the crypto industry into the new regulatory system, the court and Congress will have to step in because the chairman is likely to stop it with his SEC power.
This lawsuit has affected the United States XRP community but XRP community operations outside the country seems to be booming. The SEC will cause crypto innovation to move outside the state as claimed by the reporter.
Ripple Versus the U.S. Securities and Exchange Commission Lawsuit
The lawsuit between the company and the regulator started late last year. SEC accused the company of selling illicit securities.
In dragging the company to court, the regulator also included the founder and former co-founder of the company, Brad Garlinghouse and Chris Larsen as defendants.
Garlinghouse claims that with the lawsuit ongoing, its shareholders are still solidly behind the company.