Ripple and the SEC have been battling for a long time now. The firm has been making a lot of headlines due to this, and the trend continues. Check out the latest reports about Ripple and the SEC below.
Ripple remittances partner addresses SEC lawsuit
A partner company of payments platform Ripple says the U.S. Securities and Exchange Commission’s (SEC) claims that XRP is an investment contract are not true. As you know, the SEC and Ripple are not on the best terms these days and this has been going on for a while now,
According to new documents, I-Remit, a global remittances network, is filing an amicus brief in support of Ripple claiming that the SEC’s claims against the firm hold no water.
I-Remit said that XRP has real-world utility and is much more than a simple speculative asset.
“The SEC claims that Ripple violated the Securities Act of 1933 because ‘XRP was an investment contract’ and that ‘the principal reason for anyone to buy XRP was to speculate on it as an investment.’”
The firm continued and explained the following:
“I-Remit believes that this is false. I-Remit – and countless similar companies that use XRP for cross-border fund transfers on a daily basis – are living proof. I-Remit does not use XRP ‘to speculate on it’ nor does it consider XRP to be an ‘investment’ whose inherent value is expected to increase over time.”
XRP chart is praised by an important analyst
A really popular analyst known for making timely Bitcoin (BTC) and altcoin calls says XRP is one of the strongest assets in the crypto markets.
In a new strategy session, the pseudonymous analyst known in the industry as DonAlt says that he’s ready to scoop up XRP in case the crypto markets witness another sell-off event.
“If I get a breakdown on Bitcoin, the one coin that I want to be buying is XRP.” Check out our previous article to learn more details.