The news focused on Ripple (XRP), which is the 3rd Most Valuable element of the cryptocurrency industry by market cap, is not interrupted. Finally, the American Stock Exchange and Securities Commission (SEC) will sue the company, according to reports on December 22.
After this news, what Ripple CEO Brad Garlinghouse said once again sat on the agenda. Speaking for the XRP case, Garlinghouse said the situation was an issue for the entire industry.
Many people reacted to Garlinghouse’s words in the minval ‘this fire burns us all’. Garlinghouse has previously described Bitcoin and Ethereum as’ China-based ‘ cryptocurrencies, and these words have once again resonated widely in the industry.
Initial comments on the Ripple (XRP) case
Leading figures in the cryptocurrency sector made a status assessment on this issue. In the comments, expressions of reaction to Garlinghouse and Ripple in general are used. Nic Carter, for example, said in his remarks about the process:
The Ripple company has marketed themselves over the years as a cheaper, more efficient version of Bitcoin. They described bitcoin as an ‘environmental disaster’ and argued it was China-based. But then when they’re sued by the SEC, they say, ‘we’re all in this together.’
Tone Vays, one of the industry’s famous analysts, assessed the situation with the following words:
The SEC is not attacking cryptocurrencies. We’re not all on the same boat in this. XRP is a central securities. No one can argue otherwise. If this case ends in favor of the SEC, XRP would have to be delisted from all cryptocurrency exchanges.
Is XRP being Delist?
In particular, this delist claim has created an agenda. If XRP is recognized as a securities by the SEC, it is obvious that this legal situation will leave cryptocurrency exchanges in a difficult position.
The last thing a stock market with an intention of going public would want to deal with would be a dispute with the SEC.
As it is known, Coinbase, one of the most powerful institutions in the sector, plans to become an IPO. A possible dispute with the SEC over XRP private could also deal a very serious blow to Coinbase. So Fidelitas Lex also makes the same interpretation as Tone Vays, basically. If the case ends up in favor of the SEC, then Coinbase’s delisting of XRP could, indeed, come to the table strongly.