SEC is treating Ripple like a Ponzi scheme, law professor says

As the widely publicized case in which the United States Securities and Exchange Commission (SEC) is accusing Ripple of illegally selling the XRP token is awaiting its conclusion, one particular law professor has said that the regulator is treating the blockchain company as a Ponzi schemer.

Timeline of Xrp

Ripple vs SEC lawsuit has become more fascinating after the latest hearing of the LBRY vs SEC lawsuit on January 30. During the hearing, the Judge made it clear that digital assets traded in the secondary markets are not securities.

Stanford professor Darrell Duffie shares that despite rapidly becoming a global phenomenon, CBDCs still face multiple setbacks.  Ripple offers solutions that can help solve these CBDC pitfalls.

Ripple Labs [XRP] looked upbeat about its chances in the two-year-long litigation over the status of XRP in its fourth-quarter financial report, ahead of a likely conclusion in the SEC complaint.

The ongoing legal battle between blockchain firm Ripple and the Securities Exchange Commission (SEC) is projected to impact the general crypto market. In this line, XRP token price performance is among the most monitored elements.

Ripple Labs has released its fourth-quarter earnings report, revealing its confidence in the ongoing SEC lawsuit regarding the status of XRP. Despite the two-year legal battle, the report highlights Ripple's pride in its defense and states that the company feels more optimistic about the outcome than ever before.

As became known yesterday, the U.S. Securities and Exchange Commission officially recognized that the sale of LBRY Credits (LBC) tokens on the secondary market was not a case of selling unregistered securities. Amid the positive news, the LBC price surged more than 80% and at one point was up more than 280%.

The conclusion of the highly publicized dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) is drawing near, and investors are expecting that a positive verdict in the case against the financial regulator will have a substantial bullish influence on the price of XRP in the near future. 

The XRP price has dropped by $0.400093 in the past 24 hours, representing a fall of 3% as the market as a whole dips by only 1%. The current price marks a 0.5% in a week and a 15% gain in the last 30 days, with XRP doing very little in response to the news that Ripple has appointed a new President, long-time employee Monica Long.

The crypto world continues to closely follow the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). After both parties filed their respective summary briefings, the fate of Ripple and its XRP token remains uncertain.

In a piece of news that went undetected within the crypto community for a few days, the Southeastern European country of Montenegro has announced a partnership with Ripple. The country's prime minister, Dr. Dritan Abazović tweeted about the pilot project with Ripple already on January 18, 2023.