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SEC offered to announce XRP is a security, three years ago: Ripple CLO spills the truth
Ripple has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC) since 2020. Reflecting on the SEC’s offer to Ripple, Chief Legal Officer (CLO) Stuart Alderoty, said that the payment remittance firm refused the settlement offered by the regulator.
XRP on-chain metrics indicate likelihood of correction in the altcoin.
Ripple CLO drops details of SEC settlement offer from 2020
Alderoty shared details of the US financial regulator’s settlement offer to the payment remittance firm in 2020. The Ripple CEO said that prior to filing the lawsuit, the SEC offered to announce to the market that XRP is a security and give market participants a short window to “come into compliance.”
Ripple refused the offer for two reasons, first being XRP is not a security and second that the SEC never built a framework for crypto compliance. Alderoty argues that irrespective of the spin put on the lawsuit by former SEC officials, Ripple wanted to prove a point that XRP is not in and of itself a security. #Gate.io Annual Report 2023 #Gate Post Highlights #ContentStar #HotTopicDiscussion #ContentMining #FEG #HotColumn