[코인리더스] Will Ripple (XRP) become a’loser’ in the cryptocurrency market?

▲ Source: Twitter account @Ripple © Coin Leaders

Ripple (XRP) token issuer Ripple Labs is currently engaged in a fierce legal battle with the U.S. Securities and Exchange Commission (SEC) over suspicion of selling unregistered securities.

In December of last year, the SEC indicted Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen, alleging that they tricked investors into selling more than $1 billion of XRP without registering XRP as a securities. Revealed.

In addition, the SEC added fact-based details to its complaint in February that’both Larsen and Garlinghaus played an important role in the sale of XRP to Ripple’s institutions and in the sale and negotiation of XRP to other private investors’. Expressed will.

Accordingly, on March 3 (U.S. time), Ripple responded by filing a response to the’correction complaint’ submitted by the SEC to the court. Ripple’s side strongly criticized the SEC’s intention to artificially separate the winners and losers among cryptocurrencies (virtual assets).

In fact, the SEC has already determined that Bitcoin and Ethereum are exempt from being regulated as securities such as stocks and bonds. However, it is trying to regulate XRP as securities.

Accordingly, CEO Brad Garlinghouse recently insisted on his Twitter that “SEC is trying to over-regulate. XRP is not a stock.”

Ripple’s attorney Stuart Alderoty also tweeted on the same day that “Ripple submitted a response to the’revised complaint’ filed by the SEC to the court. XRP is completely transparent to the SEC.”

“XRP is listed on more than 200 exchanges around the world, and billions of dollars worth of XRP are traded every month. Many market makers generate XRP transactions every day, and other products not developed by Ripple also use XRP. I’m using it,” he explained.

Meanwhile, the market cap of Ripple (XRP), which is the 7th place in the coin market cap as of 4:20 p.m. on March 5 (Korean time), is recording about $0.463.