The American securities regulator stated that Ripple & TerraForm cases are different from each other, so no reference from the TerraForm case can be used in the Ripple case.

Ripple is a San Francisco headquartered fintech firm that is known for its XRPL (XRP) Cryptocurrency-powered cross-border payment services. Since Dec 2020, Ripple has been under huge legal hurdles because of a suit filed by the United States Securities and Exchange Commission (SEC) against Ripple’s business operations in link with XRP Cryptocurrency

The United States Securities and Exchange Commission stated that the cases of Ripple and TerraForm are different, and thus, references from the TerraForm case cannot be used in the Ripple case.

The American securities regulator stated that Ripple & TerraForm cases are different from each other, so no reference from the TerraForm case can be used in the Ripple case.

In a recent development in the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC), the SEC has stated that Ripple's attempt to use a reference from the TerraForm Labs lawsuit is pointless. The SEC stated that the case with TerraForm Labs is a different matter.

On June 15, The US SEC stated that Ripple’s attempt to use reference from the TerraForm labs lawsuit was pointless because the case with TerraForm labs was a different thing.

In response to Ripple's letter regarding the TerraForm Labs Consent Judgment, the SEC stated that it had received the letter and that Ripple's arguments were noted. However, the SEC went on to state that it believed that Ripple's attempt to draw parallels between the TerraForm Labs case and the XRP case was ultimately pointless.

According to the SEC, the case with TerraForm Labs was a different matter entirely, and thus, the legal standards that applied in that case were also different from those that applied in the XRP case. The SEC stated that it believed that the court would ultimately reach the same conclusion.

In conclusion, the SEC stated that it did not believe that any further discussion on this matter was necessary and that it would continue to move forward with its case against Ripple.

#XRPCommunity SECGov v. #Ripple #XRP @SECGov has responded to @Ripple’s letter regarding the TerraForm Labs Consent Judgment.

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In response to the SEC's statement, Ripple chief legal officer Stuart Alderoty took to Twitter to defend Ripple and XRP against the SEC.

Alderoty stated that Ripple had not agreed to any SEC demands, the court had ruled that XRP was not a security, there were no victims to compensate, and Ripple was thriving as a company. Additionally, he stated that the SEC seemed to have abandoned its excessive $2 billion penalty demand.

The @SEC is raging. Ripple defended itself – “agreeing to nothing.” The court gave clarity that XRP is not a security. There are no “victims” to compensate. And worst of all for the @SEC, Ripple is thriving. But at least @SEC seems to have abandoned its absurd demand for $2B.

The trade price of the XRP coin rose by 3% in the last 24 hours and is currently trading at $0.488.

News source：https://www.kdj.com/cryptocurrencies-news/articles/american-securities-regulator-stated-ripple-terraform-reference-terraform-ripple.html

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