XRP is a very tenacious cryptocurrency, but sadly, back in the day, it had some falling out with the Securities and Exchange Commission. The Commission believed that XRP is not up to achieve the standard of a cryptocurrency while it has been earlier registered with the Commission as security. This led to a very vigilant lawsuit between the Securities and Exchange Commission and XRP, which is still going on with no apparent decision on this thing coming out anytime soon.
During this lawsuit, XRP has proved time and again that XRP is indeed a cryptocurrency and was registered as one; they don’t know what happened along the line or why the Commission is now saying that it is not a cryptocurrency but security. XRP has been able to defend itself very bravely and vigilantly during this whole course while the position of the Securities and Exchange Commission looked weaker. Now the CEO of Coinbase, Brian Armstrong, has come forward in support of XRP amid the ongoing battle with the Securities and Exchange Commission.
Ripple’s Approach Towards Lawsuit is Better
In a series of tweets, Armstrong has said that the overall approach of XRP is better, and the lawsuit is indeed a very complicated one, but the crypto firm is handling it better than expected. He has also said that these kinds of attacks on cryptocurrency and cutting its shoots when it is still emerging and growing is not something that should be appreciated; it is, in fact, politically unpopular. He has also said that the Securities and Exchange Commission is indeed hurting the consumers instead of protecting them.
XRP has taken this whole thing very gladly and with open arms from Brian Armstrong and has said that the CEO of Coinbase might be hinting at re-listing the cryptocurrency. He has also said that the irony of this whole thing is that SEC is attacking the very people it is supposed to protect, and that is not something that should be taken lightly at all. Amid all of this, the relisting rumors for the crypto have also started and are in the air, but that too can’t happen until XRP receives a vote of confidence from the SEC and the lawsuit is all over.