TL;DR
- Max Keizer doubts Ripple’s ability to beat the SEC, citing financial influences on regulation.
- US court orders Ripple to share financial data with SEC, increasing regulatory pressure.
- Despite previous rulings in favor, experts like Keizer remain skeptical about Ripple’s future with the SEC.
Amid a growing legal battle between Ripple (XRP) and the United States Securities and Exchange Commission (SEC), Bitcoin advisor for El Salvador, Max Keizer, has expressed skepticism about Ripple’s chances of emerging victorious in this showdown.
Keizer, known for his influence in the world of cryptocurrencies, noted that the outcome of this dispute is not based on legal issues, but on the power exercised by certain entities that support the SEC, which he compared to “paid thugs.” of Wall Street.
XRP won’t win. It’s not a matter of law. The SEC is Wall Street’s paid thugs and Gary’s job is to kill XRP
“Ripple Must Share Financial Statements, XRP Institutional Sales Data, Court Rules on SEC Request https://t.co/xEnqRt5ZZV
— Max Keiser (@maxkeiser) February 8, 2024
Specifically, he took aim at SEC Chairman Gary Gensler, suggesting that his main goal is to “eliminate” XRP.
A recent US court ruling ordered Ripple to share its financial statements and data on institutional sales of XRP with the SEC, in response to the regulator’s request.
This legal decision highlights the increasing regulatory pressure Ripple faces, as the SEC seeks to obtain more information about the company’s operations and its XRP-related transactions.
Ripple has objected to this request, arguing that it was ill-timed and lacked merit
However, the court ruled in favor of the SEC, leading Ripple to request an extension to the initially scheduled hearings.
Despite some favorable court rulings in the past, such as a previous ruling stating that XRP is not inherently a security, critics like Max Keiser remain pessimistic about Ripple’s overall prospects against the SEC.
This legal showdown reflects the growing tensions between cryptocurrencies and regulatory authorities, especially in the United States, where the legal framework around cryptocurrencies continues to be a matter of debate and clarification.
Meanwhile, the cryptocurrency market continues to watch this case closely as it could have significant implications for the future of Ripple and the overall perception of cryptocurrencies in the regulatory arena.
The battle between Ripple and the SEC remains a hot topic in the cryptocurrency world, with mixed opinions on the final outcome and the impact it could have on the cryptocurrency ecosystem as a whole.
