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Ripple remains unfazed by SEC lawsuit

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Ripple remains unfazed by SEC lawsuit

According to reports, Rahul Advani, Ripple’s Asia Pacific policy director, said at a news conference in South Korea on Wednesday that the court ruling in the SEC lawsuit against Ripple Labs Inc. had the smallest impact on the company’s global business expansion. 90% of Ripple’s business is outside the United States, with a significant portion in the Asia Pacific region. In the two years of legal battles with the Securities and Exchange Commission, the company achieved its largest growth.

Ripple executives say the XRP lawsuit ruling has little impact on global business operations

Analysis based on this information:


Ripple, a San Francisco-based blockchain technology company, remains unshaken by the ongoing lawsuit with the US Securities and Exchange Commission (SEC). As reported, the Asia Pacific policy director, Rahul Advani, mentioned at a news conference in South Korea that the SEC lawsuit against Ripple Labs Inc. had a minimum impact on the company’s global business expansion.

Ripple’s business operates in over 90% of countries outside the United States, with a significant portion of its expansion taking place in the Asia Pacific region. Advani further added that the legal battle with the SEC has not hindered the company’s growth; instead, it has achieved massive growth in the past two years.

This statement comes at a crucial time following the SEC lawsuit filed against Ripple in December 2020. The SEC accused Ripple of promoting its XRP token as an unregistered security and allegedly profiting $1.3 billion from unregistered security offerings. As the case progressed, several exchanges, including Coinbase and Bitrix, delisted XRP from their trading platforms, resulting in a decline in its market value.

Ripple fought back, denying the allegations and claiming that XRP was not a security. Ripple argued that XRP is a digital asset like Bitcoin and Ethereum and should not fall under the SEC’s purview. However, Judge Analisa Torres ruled in favor of the SEC in May this year, holding that XRP was indeed a security and should have been registered.

Despite this decision, Ripple’s business seems to be unaffected. The company has continued to expand globally, partnering with several financial institutions across the Asia Pacific region, Europe and the Middle East. Moreover, Ripple’s technology continues to be in demand because of its speed and cost-effectiveness compared to traditional cross-border payments.

In conclusion, the statement from the policy director at Ripple’s news conference in South Korea highlights the company’s steady growth despite the SEC lawsuit. Regardless of the outcome, Ripple seems to be in a position to leverage its dominance in the global market for blockchain technology, remaining unaffected by the lawsuit.

-Knowledge, Growth, Regulation.

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