Ripple has been at conflict with the securities and trade fee since December 2020 when the SEC sued Ripple Labs for allegedly issuing and promoting unlicensed securities.
Regardless of being sued by the SEC, Ripple Labs will not be taking the swimsuit sitting down and has denied any plans to settle out of courtroom. According to a tweet from Charles Gasparino from the Fox Enterprise Community, Ripple’s authorized crew has assured the information outlet that there are not any plans to settle its lawsuit with the SEC. The crew is “assured they will present @GaryGensler in pursuing the case is selecting winners and losers within the #Crypto enterprise to the detriment of innovation.”
Gasparino adopted up his tweet with one other from Gary Gensler’s camp. Gensler is the present chair of the SEC and has been spearheading the investigation into Ripple. In keeping with the tweet, “individuals who know @GaryGensler say possibilities of him ceding energy or cooperating to interact the #Crypto business in a brand new regulatory regime are near ZERO.” Gasparino added that the chairman will greater than possible attempt to leverage the SEC’s energy on this “UNLESS Congress or the courts step in.”