Ripple, the renowned cryptocurrency company, is gearing up for an intense courtroom showdown with the U.S. Securities and Exchange Commission (SEC). The firm’s president, Monica Long, emphasized that they are committed to pushing back with full force in their ongoing lawsuit.
Monica Long, in a recent discussion with CNBC, articulated Ripple’s determination to take their battle against the SEC to the very end. The primary objective is to continue seeking clarity and transparency on regulations for their operations. Interestingly, the court has made a crucial ruling: Ripple’s cryptocurrency, XRP, isn’t categorized as a security. This revelation has handed Ripple a significant advantage, granting them broader avenues to extend their business, both domestically and internationally.
Ripple’s tussle for regulatory lucidity is a sentiment echoed across the crypto landscape. Leading crypto platforms, Binance and Coinbase, are also challenging the prevailing “regulation by enforcement” approach, as Long pointed out. The collective aim is clear-cut guidelines on crypto operations that would foster innovation while maintaining the integrity of the financial ecosystem.
Consistently, Ripple has championed the notion of working in tandem with regulators. Monica Long stressed the importance of this collaborative approach, emphasizing how their ethos revolves around engaging with policymakers. When Ripple crafts a product, compliance isn’t an afterthought—it’s central to the process. She further elaborated that Ripple’s commitment goes beyond mere compliance. Being recognized as a financial services provider with requisite licenses underscores their dedication to operating ethically and transparently.
Monica’s words underline Ripple’s ethos: In the world of finance, to inspire trust, one must not only play by the rules but often go above and beyond.
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