Ripple general counsel Stuart Alderoty warned the US Securities and Exchange Commission (SEC) of “hypocrisy”. Alderoty criticized the regulator, citing another previous lawsuit from Ripple, stating that “his hypocrisy is staggering.” Here are the details…
Call from Ripple advisor: Reaching conclusion quickly
Previously, top attorney accused the SEC of playing the “delayed card” regarding the Ripple case, while urging the institution to move the case forward quickly. Alderoty says that despite the SEC’s delay, the company and the court are working diligently to resolve the issue as quickly as possible. However, he believes that a solution will only be reached in 2023. Regarding what the year 2022 will bring, Ripple general counsel has previously stated that this year will be a year in which all attention will be turned to cryptocurrency legislation, in line with the future of the industry.
Last year, cryptocurrency industry It nearly quadrupled in value and also achieved significant adoption milestones. He added that while technology innovation is often met with hostility, economic rivals outside the United States are rapidly adopting digital assets, Blockchain-enabled real-time payments and central bank digital currencies (CBDCs).
Company continues to partner
Judging by the latest updates in the Ripple lawsuit, the SEC has issued a response to support Hinman’s letter sent in late April in which he insisted his emails were protected by attorney-client privilege. sent. The recent response to the Ripple defendants stated that former SEC official William Hinman had sought legal advice from SEC attorneys and therefore the documents are protected by attorney-client privilege and cannot be presented in court.
Undeterred by the ongoing litigation, Ripple has taken action to cooperate with FINCI, a Lithuania-based online platform for money transfer. With this partnership, Ripple plans to create a payment corridor (business-to-business payments) using the ODL platform powered by XRP so that FINCI customers can send money from Europe to Mexico. Ripple’s ODL network currently covers 22 countries and destinations, including Mexico, Japan, Australia, South Korea, and the Philippines.
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