Ripple Lawsuit: Prometheum Founder Predicts SEC Victory


Ripple, the blockchain payment company, has been in the spotlight recently as Aaron Kaplan, Co-Founder and Co-CEO of Prometheum, testified before the U.S. House on the topic of crypto regulations. Kaplan’s stance on the matter diverges from many others in the industry, as he expressed support for regulating cryptocurrencies under existing securities laws. He went on to commend the SEC for its comprehensive regulatory framework, considering it to be the most competent financial markets regulatory agency globally.

In a recent interview, Kaplan shared his belief that the SEC will ultimately succeed in its ongoing lawsuit against Ripple. The lawsuit was initiated by the SEC in December 2020, accusing Ripple and its executives of unlawfully selling XRP as an unregistered security to investors. During the interview on the Daily Drop show with Bobby Del Rio, Kaplan confidently stated that, based on all indications, he anticipates the SEC will prevail in the case and secure a favorable decision.

Read Also: Ripple (XRP) Partners with Colombia Central Bank to Improve Payment System

Ripple Case: Prometheum Founder Draws Parallels with LBRY Case

In a similar vein to the LBRY case, Aaron Kaplan drew parallels between the ongoing Ripple lawsuit and the outcome of the LBRY case. Kaplan anticipated a comparable result, pointing out the similarities in the facts. Last year, LBRY lost its case against the SEC, which alleged that LBRY had sold unregistered securities. Despite the defendants’ argument that their token served as a digital currency within the LBRY Blockchain, the SEC maintained its position.

However, some individuals within the crypto space dismissed Kaplan’s opinion as mere “noise” and accused him of spreading negative sentiments. One community member questioned why these opinions were surfacing now, especially after the recent release of Hinman’s documents. The community celebrated the document’s publication as a victory, while Ripple’s Chief Legal Officer called for an investigation into potential influences on Hinman and the SEC’s handling of the situation.

These recent developments have sparked discussions and raised questions about the SEC’s actions and the potential impact on the Ripple lawsuit.

Read Also: Well-known Analyst Shares His Thoughts on the Future of XRP

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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