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25 April 2024
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XRP Lawyer Says SEC ‘Loathe’ Ripple Over XRP Lawsuit, Here’s Why

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken a new turn as a prominent XRP lawyer, Bill Morgan, criticizes the SEC’s handling of the case. In a recent social media post, Morgan accused the SEC of harboring animosity towards Ripple, alleging unfair treatment and an abuse of power. Notably, this comment has sparked discussions among crypto market enthusiasts, especially in the XRP community.

XRP Lawyer Slams SEC’s Biases

Pro-XRP lawyer Bill Morgan has raised serious concerns regarding the SEC’s approach to the Ripple lawsuit, suggesting bias and an abuse of power. In a scathing social media post, Morgan condemned the SEC’s actions, stating that the regulatory body holds animosity towards Ripple, evident in its prolonged legal battle against the company.

Meanwhile, Morgan’s remarks come amid escalating tensions between Ripple and the SEC, with both parties engaged in a protracted legal dispute over the status of XRP. The lawsuit, which has been ongoing for over three years, has cast a shadow over Ripple’s operations and sparked widespread debate within the crypto community.

In addition, the recent X post from Bill Morgan also hints at SEC overreach to control the cryptocurrency industry. Besides, he also lauded Ripple for continuing to “fight hard” against the regulators despite their “abusive” use of power.

Also Read: Singapore Sets Precedent with Licensing of Crypto Market Maker GSR Markets

Unfair Treatment and Power Abuse

The crux of Morgan’s criticism lies in the disparity between the SEC’s claims against Ripple and its handling of similar cases involving other crypto projects. He highlighted the SEC’s demand for exorbitant remedies in the Ripple case, far exceeding typical enforcement actions against unregistered sales.

Moreover, Morgan pointed out the discrepancy in the SEC’s approach, citing instances where the regulatory body imposed significantly lower remedies on other crypto projects accused of similar violations. He argued that such tactics amount to an abuse of power and underscored the SEC’s alleged bias against Ripple.

Unregistered Sales Vs Remedies
Source: BlockProf, X

Meanwhile, the revelations have sparked widespread debate within the crypto community, with many questioning the SEC’s motives and regulatory overreach. As the legal battle between Ripple and the SEC continues to unfold, stakeholders closely monitor developments, anticipating the implications for XRP’s regulatory status and the broader crypto market.

However, Bill Morgan’s critique of the SEC’s handling of the Ripple lawsuit sheds light on the complexities and challenges facing the crypto industry. The allegations of bias and abuse of power underscore the need for greater transparency and accountability in regulatory enforcement actions.

Also Read: Fed’s Powell Is In No Rush for Interest Rate Cuts, More Pain for Bitcoin (BTC)?

The post XRP Lawyer Says SEC ‘Loathe’ Ripple Over XRP Lawsuit, Here’s Why appeared first on CoinGape.

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