SEC Loathes Ripple Over XRP Lawsuit Says XRP Lawyer, Here’s Why
HIGHLIGHTS
- In the Ripple complaint, an attorney for XRP charges the SEC of prejudice and power abuse.
- Within the crypto world, there is controversy about the SEC’s purported unjust treatment.
- Concerns over regulatory overreach are raised by Ripple’s continuing court struggle.
A lawyer representing XRP criticizes the Securities and Exchange Commission for being biased and going too far in the Ripple litigation, sparking a discussion about regulatory equity and how it affects the cryptocurrency market.
A well-known attorney for XRP, Bill Morgan, has adopted a new stance in the continuing legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), criticizing the SEC’s handling of the matter. Morgan said in a recent social media post that the SEC was biased against Ripple and had been abusing its authority. Notably, aficionados for the cryptocurrency market, particularly in the XRP community, have been talking about this statement.
Meanwhile, Morgan’s remarks come amid escalating tensions between Ripple and the SEC, with both parties engaged in a protracted legal dispute over the status of XRP. The lawsuit, which has been ongoing for over three years, has cast a shadow over Ripple’s operations and sparked widespread debate within the crypto community.
In addition, the recent X post from Bill Morgan also hints at SEC overreach to control the cryptocurrency industry. Besides, he also lauded Ripple for continuing to “fight hard” against the regulators despite their “abusive” use of power.
Unjust Treatment and Abuse of Authority
Morgan’s main point of contention is the discrepancy between the SEC’s allegations against Ripple and how it handled instances similar to this one involving other cryptocurrency ventures. He emphasised how, in the Ripple instance, the SEC demanded outrageous remedies that went much beyond standard enforcement measures against unregistered sales.
Furthermore, Morgan drew attention to the disparity in the SEC’s methodology by noting cases in which the watchdog imposed noticeably less severe penalties on other cryptocurrency projects that were alleged to have committed comparable offences. He maintained that these strategies constitute a misuse of authority and emphasised the SEC’s purported anti-Ripple slant.