[초점] Ripple’s fateful day…First trial on the 22nd, “Issue and Prospects”

[블록미디어] “Unless the defendant is permanently restrained and banned, he will continue to engage in similar offenses.” This is a legal action required by the U.S. Securities and Exchange Commission (SEC) from three defendants (Ripple Corporation, CEO of Garlinghouse, and co-founder of Larsen).

The SEC and Ripple will have their first confrontation on the 22nd (local time) trial. Both sides went into a fierce legal battle. In the case of Ripple, former SEC chairman Mary Jo White was included in the defense team. The SEC revised the complaint, detailing the misconduct of Garlinghaus and Larsen. Fighting outside the court is also fierce.

# Issue: Stock or not vs. Permanent separation from insiders
Former SEC chairman White criticizes the SEC for the purpose of “the SEC said that Ethereum developed after XRP is not a securities, but why push Ripple only.” This logic is at the heart of our Ripple defense strategy. XRP is a digital asset that has already left their hands and is trading on the market like Ethereum.

The SEC, on the other hand, questioned the deep involvement of defendants in the sale of XRP, particularly the two insiders, Garlinghaus and Larsen, taking personal gains. therefore Permanently separate Ripple Corporation and two insiders from XRPOtherwise, similar misconduct will continue.

In the SEC complaint, emails and meetings between Garlinghouse, Larsen and Ripple employees, and market makers appear naked. The details and roles of former and current Ripple employees involved in the sale of XRP and price manipulation are also listed. The SEC prepared enough and filed a lawsuit. It’s very likely that the SEC won’t step back easily until you get what you want.

# Prospect: No one wants a long fight
Even former SEC chairman White, who is included in the lawyers’ team, doesn’t seem to have any intention of deciding whether to win or lose in court. Around October, it suggested that a federal court decision could be made ex officio, or an agreement could be reached before that. First, the two sides struck Bae Jin, saying, “There is no negotiation.”

From the SEC’s point of view, considering the burden of the new chairman, Gary Gensler, there is no need for more fights. You just have to get what you want in the first place. Separating XRP and defendant. Tell me easily It means to step back from Garlinghaus and Larsen. They also pay unfair profits as fines.

The SEC’s goal is to start this trial on the premise that XRP is a security and end with the result of separating the defendant from XRP. The SEC is not interested in the future of XRP. What about the defendants? I don’t know about Ripple Corporation The two insiders could also consider choosing to leave the company for an appropriate fine if they’negotiate’. Unless you are going to bury the bones in Ripple.

# XRP separated from ripple?
Ripple sells XRP every month to raise operating funds. The former CTO is also selling Ripple, which he received as a reward. If Garlinghaus and Larsen are withdrawn as the SEC wants, the sale policy will inevitably change. Unlike Ethereum, someone in the center will not be able to lead the market supply of XRP.

The question is, what happens to Ripple’s business when they leave the company? Ripple is a company that has come out to replace the Swift system created for international remittances. It is also true that it is questionable whether the existence of XRP is essential for this purpose. A company called Ripple can survive even if XRP is abandonedIs.

So what about XRP left alone in the market? Ripple lawyers compare a lot with Ethereum. In this case, can XRP build its own ecosystem?

In extreme terms When Ripple and SEC reach negotiations, XRP could become a duck egg on the Nakdong River There is. XRP’s fate is because the project started with a centralized Ripple. Even if Ripple closes the case with negotiations and the SEC succeeds in removing two executives, XRP could be in great trouble.

XRP is clearly different from Ethereum.