SEC Threatened XRP Holders with Legal Action

Author & Guarantor: Anton Yurchenko

Securities and Exchange Commission Opposes Investors Can Join XRP Securities Recognition Case


Investors who are trying to intervene in the proceedings of the US Securities and Exchange Commission (SEC) and the Ripple company are forcing the regulator to initiate proceedings against them, the agency said in a statement to the court. The SEC recalled that it can decide against whom to open a case based on certain factors.

Earlier, as Crypto-Auditor knows, the regulator accused Ripple of selling unregistered securities under the guise of XRP tokens worth $1.3 billion. In court, investors obtained permission to join the case to defend their interests. However, the SEC does not agree with this decision.

“If investors are allowed to intervene, this will create a dangerous precedent for future enforcement actions of the SEC”.

In late April, Ripple CEO Brad Garlinghouse criticized the US authorities for classifying XRP as a security. According to Garlinghouse, this is not the case in any other country in the world. The head of the blockchain project added that he was disappointed by the lack of clarity in the regulation of cryptocurrencies in the United States.

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