XRP has lately been in the headlines as a result of the ongoing dispute with the US regulators. The Securities and Exchange Commission (SEC) had recently filed an opposition to the DPP ruling. The regulators have argued that the agency is merely seeking a do-over. Moreover, Brad Garlinghouse, the Chief Executive Officer at Ripple has dismissed XRP’s SWIFT uncertainty in response to the latest opposition. Meanwhile, the targeted sanctions have been escalated against Russia.
Ruble/Bitcoin hits nine months high
The West has escalated its targeted sanctions against Russia. It is noteworthy that the West is intending to prevent Russian banks from accessing the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The communication network would potentially help underpin the global financial transactions.
Furthermore, we have observed that the latest round of sanctions being announced by the US, EU, UK, and Canada against Russia meant that the nation would be expelled from SWIFT. The scenario will ultimately paralyze the assets of the Russian central bank.
Following the scenario, experts in the cryptosphere believe that more Russians will soon turn to cryptocurrencies in the aftermath of the RUB/BTC volume hitting a nine months record.
Ripple’s CEO discusses about XRP evading sanctions
Following the impacts of war across the globe, Garlinghouse discussed the reality of XRP, crypto, and blockchain’s involvement in evading international sanctions. According to Garlinghouse, to clear any confusion, RippleNet abides by the international law and OFAC sanctions.
Indeed, the fintech firm is keeping its unambiguous stand on the side of the law. Ripple stands both in relation to the SEC lawsuit and in regards to the current sanctions against Russia.
Ripple’s continues to fight the SEC
As informed by the defense attorney James K. Filan, XRP community members through Twitter on February 28. Per the information, Garlinghouse had also filed a response to the regulator’s opposition for the disclosure of notes between the SEC Commissioner Roisman and him.
Following the case, Filan wrote that the Ripple CEO files a response o SEC’s opposition to his motion seeking the disclosure of notes of the meeting between former SEC Commissioner Roisman and him.