Top lawyer had accused SEC of playing “delay card” concerning Ripple lawsuit
Ripple’s general counsel, Stuart Alderoty, has denounced the SEC for their hypocrisy. Based on another pre-Ripple case, Alderoty criticized the regulator, saying that “hypocrisy was staggering.”
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 20, 2022
Earlier, the top lawyer accused the SEC of playing a “delay card” regarding the Ripple lawsuit while urging the agency to move the case quickly. Despite the SEC’s delay, Ripple and the court are working diligently to resolve the matter as quickly as possible, Alderoty said. However, he believes a solution will only be reached by 2023.
As for what 2022 brings, Ripple’s general counsel previously stated that this year will be the year where all the attention will be on crypto legislation, with the future of the industry. Over the last year, the crypto industry has nearly quadrupled in value while also hitting major adoption milestones.
While technological innovation is frequently met with hostility, he went on to add that economic competitors outside the US are rapidly adopting digital assets, supporting real-time payments. blockchain and central bank digital currency (CBDC).
In its latest updates on the Ripple case, the SEC sent a reply in support of the letter sent in late April, where it asserted that Hinman’s emails were protected by attorney-client privilege row. The latest response to Ripple defendants states that former SEC official William Hinman received legal advice from SEC attorneys and thus the documents are protected by attorney prerogative- client and cannot appear in court.
Undaunted by the ongoing lawsuit, Ripple has moved to partner with FINCI, a Lithuania-based online platform for remittances. By recognizing this partnership, Ripple plans to create a payment corridor using its ODL platform, powered by XRP, so that FINCI customers can send money from Europe to Mexico (business-to-business payments).
Ripple’s ODL network spans 22 countries and destinations, including Mexico, Japan, Australia, South Korea, and the Philippines.
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