XRP fans posted a petition on the White House website

XRP fans posted a petition on the White House website



XRP fans posted a petition on the White House website

  • XRP community has posted a petition in support of cryptocurrency on the White House website

  • The document has already been signed by more than 13 thousand people; need 100 thousand.

  • Ripple Labs’ first court hearing to take place in February

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XRP fans posted a petition on the White House website

A petition has appeared on the US government website asking for XRP to be recognized as a currency in line with FinCEN’s definition

XRP Holders Lost A Lot Of Money After The Securities and Exchange Commission Announced the Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More security and sued Ripple. After assessing the losses, the community posted a petition on the government website asking for XRP to be recognized as a currency.

People against

On December 29, the White House website posted an appeal related to the fate of the token issued by Ripple Labs. The authors of the document ask the government to support the definition of XRP as a currency formulated by the Financial Crime Enforcement Network (FinCEN)

XRP fans posted a petition on the White House website

At the time of publication, the petition was signed by more than 13 thousand people. However, in order to get things going, you need to collect 100 thousand signatures..

Earlier, the editorial staff of BeInCrypto reported that on December 23, 2020, the American Securities and Markets Commission (SEC) accused Ripple Labs and the company’s management of selling unregistered securities, that is, XRP tokens, in the amount of $ 1.3 billion..

Claims against Ripple

It’s not just that current CEO Christian Larsen and former Ripple CEO Brad Garlinghouse were selling XRP through Ripple. The regulator also accuses them personally of selling unregistered securities worth about $ 600 million..

Garlinghouse announced the imminent lawsuit the day before it was officially disclosed by SEC, with Ripple’s co-founder still claiming that the attacks on the company and XRP are unfounded..

He noted that Ripple has been in the market for eight years. Moreover, he questioned the timing and motives of this claim. SEC filed a lawsuit just before the Trump administration left, leaving Biden’s team to clean up the case.

XRP fans posted a petition on the White House website

Local storm or global catastrophe?

The SEC’s actions swept a devastating wave throughout the market. American exchanges began to remove XRP from the listing and suspend operations with the coin. Not all decisions took effect immediately. For example, Coinbase will stop supporting XRP from January 19, and Bitstamp will stop trading on January 8..

Outside the US, life goes on for XRP holders. Australian platform BTC Markets announced on December 31 that it is not going to give up the coin.

For our #XRP clients, we are monitoring events in the US regarding the SEC. However, we have no plans to delist XRP at this time @Ripple

– BTC Markets (@BTCMarkets) December 30, 2020

The status quo remains

The next big event for Ripple, Garlinghouse and Larsen will take place on February 15th. The Federal District Court for the Southern District of New York (SDNY) has asked the parties to refer the case to the magistrates’ court. If they refuse, SDNY will hold a hearing on February 22nd via conference call.

Ripple Labs posted a comment on December 29 stating that almost all of the company’s activities are conducted outside the United States. The team also added that XRP is quietly and legally traded outside of the States, and in some countries, such as the UK, Japan, Singapore and Switzerland, the coin’s legal status is not in question..

In addition, the team looks forward to working with the new SEC leadership. Most key positions on the committee have changed, including chairman, directors, senior economist, and legal counsel.


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