In a recent interview SEC commissioner aka Crypto Mom Hester Pierce in a response to recent $1.3 Billion Lawsuit against Ripple and said SEC can do better as enforcement should not be the only way to provide guidance. It should be noted that the hearing for the lawsuit is due in virtual court on Feb. 22nd, 2020 losing which XRP might be un-tradable at many exchanges.
— Forkast News (@Forkast_News) January 8, 2021
Hester Pierce Aka Crypto Mom Suggests More Clarity is Required on Regulations
As per the interview Hester Pierce declined to comment on upcoming Ripple Lawsuit hearing on 22nd February and said that quote,
“In enforcement actions, it’s often a unanimous vote, but it’s sometimes not — once that vote has been taken, the litigation moves forward,”
Earlier SEC in a statement called XRP a security and filed a $1.3 Billion lawsuit against Ripple and its executives. The news was followed by delisting of cryptocurrency XRP across major exchanges leading to more than 90% decline in XRP price.
SEC charges Ripple and two executives with conducting $1.3 billion unregistered securities offering https://t.co/3VP23RpSyV
— SEC_News (@SEC_News) December 22, 2020
In past SEC has taken actions against crypto projects like Kik’s KIN Token ICO and telegram’s TON token.
STORY Under Development.
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