Ripple says it will fight the SEC lawsuit ‘all the way through’

• Ripple said that it plans to fight the ongoing lawsuit with the U.S. Securities and Exchange Commission “all the way through,” its president Monica Long told CNBC.

• Ripple is among crypto companies such as Binance and Coinbase which are being sued by the SEC for violating laws.

• Crypto leaders have slammed the U.S. and its approach to regulation, particularly for a lack of clarity.

MAP: fiatleak.com/xrp

U.S.-based cryptocurrency company Ripple says it’s planning to fight the ongoing lawsuit with the U.S. Securities and Exchange Commission “all the way through.”

“We are planning to continue to fight the case all the way through,” Monica Long, Ripple’s president, told CNBC on Monday.

The lawsuit between Ripple and the SEC has stretched for nearly three years.

In 2020, the SEC accused Ripple and its co-founders of breaching securities laws by selling $1.3 billion of its native cryptocurrency XRP without first registering it as a security.

Ripple disputed the claims, insisting XRP cannot be considered a security and is more akin to a commodity. In July, a landmark ruling by U.S. District Judge Analisa Torres determined the token was not necessarily a security.

“We also got clarity in that lawsuit. And the judge’s order in that case said very clearly XRP in and of itself is not a security, which kind of opens the doors to us to really expand our business — not just in the U.S. but even more globally,” said Long.

Read More: https://www.cnbc.com/2023/09/13/ripple-says-it-will-fight-the-sec-lawsuit-all-the-way-through.html