{"id":14158,"date":"2022-10-26T20:05:50","date_gmt":"2022-10-26T20:05:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-labs-accuses-sec-of-abusing-its-powers-and-predicts-big-impact-on-crypto-space\/"},"modified":"2022-10-26T20:05:50","modified_gmt":"2022-10-26T20:05:50","slug":"ripple-labs-accuses-sec-of-abusing-its-powers-and-predicts-big-impact-on-crypto-space","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-labs-accuses-sec-of-abusing-its-powers-and-predicts-big-impact-on-crypto-space\/","title":{"rendered":"Ripple Labs Accuses SEC of Abusing its Powers and Predicts Big Impact on Crypto Space"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Ripple Labs\u2019 legal battle with the U.S. Securities and Exchange Commission\u2019s (SEC) over allegedly selling <a href=\"https:\/\/igaming.org\/cryptocurrencies\/ripple\/\">XRP<\/a> as an unregistered security is going to leave a big mark on the crypto industry. This is what Ripple\u2019s deputy general counsel said in a recent interview.<\/p>\n<p>Speaking with Modern Counsel, Deborah  McCrimmon <a href=\"https:\/\/modern-counsel.com\/2022\/deborah-mccrimmon-ripple-labs\/\">accused<\/a> <\/p>\n<p> the SEC of abusing its powers in an attempt to regulate the crypto space. She said: <\/p>\n<p><em>\u201c<\/em><em>[The SEC] is <\/em><em>reaching far beyond the authority that was granted to them by Congress<\/em><em>.\u201d<\/em><\/p>\n<p>Nevertheless, whatever the outcome, it will be impactful she continued:<\/p>\n<p><em>\u201cIt\u2019s a cutting-edge, industry-defining case. It\u2019s going to be precedential, not just for Ripple, but for the entire crypto industry. It\u2019s being watched by the entire industry.<\/em><em>\u201d<\/em><\/p>\n<p>Furthermore, McCrimmon called the SEC\u2019s attitude \u201dterrible\u201d and stressed the importance of the regulator to provide the industry with clear guidelines instead of chasing after businesses.<\/p>\n<p>After <a href=\"https:\/\/igaming.org\/crypto\/sec-must-disclose-critical-documents-in-ripple-lawsuit-judge-orders\/\">motions<\/a> going back and forth, the judge Magistrate <a href=\"https:\/\/igaming.org\/crypto\/ripple-sends-blow-to-sec-judge-rules-hinman-speech-is-relevant\/\">ruled<\/a> that the SEC is to hand over internal documents related to the infamous Hinman speech, where the former SEC director William Hinman said that Ethereum is not considered to be a security.  McCrimmon stresses the importance of these documents and said that they are <em>\u201cwell worth the fight\u201d<\/em> <\/p>\n<p> . <\/p>\n<p>The court case could be coming to an end before the new year, as <a href=\"https:\/\/igaming.org\/crypto\/new-motions-filed-in-sec-vs-ripple-is-an-end-to-the-lengthy-trial-near\/\">both parties have filed motions<\/a> asking Judge Analise Torres to make a swift ruling, based on accompanying documents.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/ripple-labs-accuses-sec-of-abusing-its-powers-and-predicts-big-impact-on-crypto-space\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Ripple Labs\u2019 legal battle with the U.S. Securities and Exchange Commission\u2019s (SEC) over allegedly selling XRP as an unregistered security is going to leave a big mark on the crypto industry. This is what Ripple\u2019s deputy general counsel said in a recent interview. Speaking with Modern [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":14159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14158"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14158"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14159"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}