US Securities and Exchange Commission’s (SEC) campaign against Ripple has been criticized by a Forbes contributor, citing the release of undisclosed documents and past discrepancies that could influence the outcome of the SEC vs. Ripple case. Sam Lyman, a prominent contributor at Forbes, mentioned that the regulator went too far in its crackdown on Ripple. The SEC has accused Ripple of violating the law by raising funds through the sale of XRP tokens, which the regulator claims is a security. However, the recent release of the documents challenges the regulator’s decision to classify digital assets as securities. The release of these documents could potentially impact the pending case between Ripple and the SEC. Many observers now see this as an opportunity for Ripple’s ultimate victory, which could lead the way for the entire crypto industry. At the time of writing, XRP trades at $0.4621, indicating an 8% increase in price action over the past seven days.
Pro-XRP attorney John Deaton also highlighted that the current position of the SEC in the case goes beyond enforcement. The SEC’s focus on the lawsuit was not just about enforcing US securities laws. If it were, the SEC would have limited the case to Ripple’s specific sales of its asset, XRP, and the case would have been closed long before now. Instead, the SEC used the lawsuit as a weapon to a bad motive.
In conclusion, the SEC vs. Ripple case has raised concerns over the regulation of digital assets as securities, and the release of undisclosed documents challenges the SEC’s decision. Ripple’s victory in the case could potentially liberate the entire crypto industry. The recent developments in the case could be vital in determining the judge’s final verdict.