Wall Street Journal Editorial Board Shades SEC For Suing Ripple

As you probably know by now, the US SEC and Ripple have been confronting for a while now. The SEC sued the San Francisco-based firm a while ago, and the scandal has been ongoing.

It’s true that Ripple saw a recent victory, making XRP enthusiasts excited. Now, it’s been just revealed that the Wall Street Journal editorial board has something to say about all this as well.

UToday online publication notes that in its op-ed published on Apr. 18, the Wall Street Journal’s editorial board has criticized the SEC for its ad hoc approach to regulating the crypto market.

The board claims that the agency’s recent lawsuit against distrusted ledger technology provider Ripple is harming investors:

“U.S. participants in the $2 trillion cryptocurrency market are seeking clarity that the agency has declined to provide, preferring to announce its positions through individual enforcement actions,” according to the notes.

Earlier this month, Forbes also joined Ripple’s media blitz, and they accused the SEC of potential conflicts of interest without any evidence.

XRP price trajectory

Besides important partnerships and collaborations, Ripple managed to mark another legal victory against the SEC.

Not too long ago, it’s been revealed that the U.S. Magistrate Judge Sarah Netburn rejected the SEC’s demand for up to eight years of personal financial information of Chris Larsen, Ripple’s co-founder and executive chairman, and Brad Garlinghouse, Ripple’s chief executive officer.

The online publication Forkast noted that the judge also quashed the subpoenas served by the SEC on SVB Financial Group, First Republic Bank, the Federal Reserve Bank of New York, Silver Lake Bank, Silvergate Bank and Citibank that had sought to obtain Larsen and Garlinghouse’s personal financial records.

“The SEC’s requests for the Individual Defendants’ personal financial records, apart from those records of XRP transactions that are already promised, are not relevant or proportional to the needs of the case,” Netburn said in her ruling.

All kinds of bullish XRP price predictions popped up.

At the moment of writing g this article, XRP is trading in the green, and the coin is priced at $1.49. 

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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