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Ripple vows to respond to SEC “attack” by seeing XRP token removed from exchange register


#With XRP falling in value following a wave of exchange delisting and trade suspensions, #Ripple #Labs issued a statement on #Tuesday promising to respond to allegations by the U.S. #Securities and #Exchange #Commission against the company.

The statement opens with the following message:

“The public and the press have only heard the story from the SEC side, and we will present our response in a few weeks to address these unproven allegations against #Ripple.”

The statement states that The SEC is using #Ripple to bring down the entire cryptocurrency industry in #America and that, for years, the company has sought regulatory clarity on digital assets to no avail.

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#Some observers believe that #Coinbase’s decision to suspend XRP in #January could be the death sentence for the digital asset as #Ripple embarks on multi-year litigation with the SEC. #Coinbase announced its plans to suspend XRP trading on #Monday, a move that wasn’t surprising given the company’s IPO aspirations.

XRP has been in free fall since the SEC filed a lawsuit against #Ripple for allegedly violating securities laws.. #This led to several exchanges to remove XRP to avoid regulatory backlash. #Ripple says that the lawsuit “has already hit countless innocent XRP retail owners with no connection to #Ripple.”

#In the meantime, #Ripple will continue to operate and support all of its products outside of the US The statement explained:

“#Most of our customers are not in the US and the overall volume of XRP is largely traded outside the US. There are clear rules for the use of XRP in the UK, #Japan, #Switzerland and #Singapore, for example”.

#As #Cointelegraph previously reported, #Ripple CEO #Brad #Garlinghouse believes his company will continue to be successful regardless of how the SEC chooses to classify XRP.. #That’s because more than 90% of #RippleNet users are outside the country.

#Few within the crypto industry have defended #Ripple against accusations from the SEC. #Coin #Center, a DC-based think tank and champion of cryptocurrency adoption, says it is not prepared to argue that XRP is not a security.

#Representatives for #Ripple PR did not immediately respond to a request for comment.

#Keep reading:

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[ source link ]
https://es.cointelegraph.com/news/ripple-vows-to-respond-to-sec-attack-amid-exchange-delistings-of-xrp

##Ripple #vows #respond #SEC #attack #XRP #token #removed #exchange #register

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