SEC Fatal MISTAKE In Securities Argument Discovered By XRP Investor

In the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs, the XRP community has been closely following the case and sharing their insights on the matter. Recently, a member of the XRP community has shared new evidence that raises questions about the SEC’s claim that XRP is a security.

In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company had conducted an unregistered securities offering by selling XRP to investors. The lawsuit caused significant turmoil in the XRP market, with the cryptocurrency’s price plummeting shortly after the news broke.

Since then, Ripple Labs and the SEC have been engaged in a legal battle, with both parties presenting arguments and evidence to support their respective positions. However, the XRP community has been highly critical of the SEC’s case, arguing that XRP should not be considered a security.

Now, a member of the XRP community has shared new evidence that appears to contradict the SEC’s claims. The evidence in question is a letter that was sent by the SEC to an XRP investor in 2019.

In the letter, the SEC states that it “has concluded that [it does] not intend to pursue enforcement action against [the investor] with respect to [their] purchase or sale of XRP.” The letter goes on to explain that the SEC has made this determination based on its analysis of the relevant facts and circumstances.

The XRP community member who shared the letter argues that it is evidence that the SEC had previously determined that XRP is not a security. If that is the case, then the community member argues that the SEC’s lawsuit against Ripple Labs is dishonest.

The community member’s argument is that if the SEC had previously determined that XRP is not a security, then its decision to sue Ripple Labs over XRP’s alleged status as a security would be disingenuous. Furthermore, the community member argues that the SEC’s actions have caused significant harm to XRP investors, who have seen the value of their holdings plummet as a result of the lawsuit.

It remains to be seen how the court will view this new evidence and whether it will have any impact on the outcome of the case. However, the XRP community continues to closely follow the proceedings and share their insights and opinions on the matter.