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Ripple Vs SEC Lawsuit: Here Is Why SEC Will Find Its Victory Against Ripple

21 Jul, 20222 min readRegulation
Ripple Vs SEC Lawsuit: Here Is Why SEC Will Find Its Victory Against Ripple

While the SEC vs Ripple case is still stuck on whether to remove amici status for XRP holders or not, there is yet another development in relation to the case.

The US spokesperson, Brad Sherman has now asked the Securities and Exchange Commission (SEC) to chase every crypto exchange that supported Ripple’s XRP back then. It’s just not that, Mr. Sherman, while in conversation with Fox Business journalist Eleanor Terrett, has given another statement against XRP.

As mentioned by Senior reporter at Fox Business, Charles Gasparino, Brad Sherman is of the opinion that SEC will see its victory against Ripple in the ongoing dispute. Sherman claims that he is in contact with Gary Gensler, who is SEC’s chair and gets into a conversation about crypto.

Nevertheless, Sherman has never had any discussion with Gary in terms of XRP token except for allegations against Director Gurbir Grewal.

Meanwhile, Eleanor Terrett simplified Charles’ statement related to Gary and said that this was also highlighted at the hearing.

To clarify, what @CGasparino meant when he said been in contact to expand the case was that @BradSherman wants @GaryGensler and @GurbirGrewalNJ to include the exchanges that sold $XRP in their enforcement agenda, something the Congressman also mentioned at the hearing yesterday. — Eleanor Terrett (@EleanorTerrett) July 21, 2022

Sherman Strongly Believes XRP Is A Security

When Terrett asked Mr.Sherman about the reason for him considering XRP as a security, he said that it was because of the SEC’s claim. He was also seen claiming that XRP holders and its investors were in belief that Ripple will push XRP prices

As evidence for his claim as XRP is a security, Mr.Sherman points toward Ripple getting delisted by cryptocurrency exchanges as they considered the token as a security.

On the other hand, when Terrett argued that that might be because the exchanges didn’t have the proper knowledge. To this, Sherman asserted that though everyone was aware of what kind of token they were trading, they did.

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