Follow Us

Thomas Hodge files petition to SEC against a lawsuit for Ripple

Share on facebook
Share on twitter
Share on linkedin

Share

SEC blockchain blockfi
Share on facebook
Share on twitter
Share on linkedin
  • XRP advocate Thomas Hodge has filed a petition
  • The petition is requesting the SEC reconsider filing a lawsuit against Ripple and that they should stop their war with the co-founders

A petition has been filed by Thomas Hodge, an XRP advocate on change.org, requesting Securities and Exchange Commission (SEC) designated Chairman Gary Gensler to reconsider their decision regarding XRP and end their war against it.

Ripple Lawyer Hopeful With Request to Gary Gensler

President Joe Biden has picked up Gensler to lead the SEC after Jay Clayton, former Chairman of SEC, left the office. Hodge has requested Gensler to reconsider the SEC’s decision against XRP, an allegation against Ripple Labs once confirmed as SEC’s Chairman.

SEC has filed the case against Ripple’s co-founders, which has harmed the company and the shareholders and holders of the XRP currency to a massive extent, as was mentioned in the petition. The lawsuit was filed against CEO Brad Garlinghouse and Co-founder Christian Larsen in December last year. SEC in its case, has pointed that the company has sold $1.3 billion worth of XRP tokens, which were against the laws.

Under the petition, Gensler was also requested to promise publicly to sit with the holders of XRP and other digital assets to understand how to defend the investors at the SEC. Gensler was also asked to end the lawsuit and ask the SEC to stop making any rules for cryptocurrency via lawsuits. Instead, the SEC should write these rules by taking the public’s inputs and partnership with the U.S. Congress.

In the petition, it has also been advised that the SEC Inspector General should conduct a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, which was filed by the former Chairman Jay Clayton on the last days of his office.

The petition states that Jay Clayton and SEC Director of Corporate Finance William Hinman have the same interests and are keener in bitcoin, ether and financial technology business in China. Finally, the petition seeks that Gary Gensler stops making the policy via lawsuits, sit with XRP holders themselves and listen to their stories.

The SEC’s Chairman cannot be picking and choosing the winners and losers in a regulatory vacuum. There should be a deep investigation that clarifies the SEC’s intentions and whether the SEC is protecting someone else’s interests instead of retail investors.

Well, the court has ordered SEC to present the internal records relating to discussions of whether XRP tokens are equal to bitcoin or ether, which are currently not classified as securities.

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00