The SEC has been at loggerheads with many big cryptocurrencies for some time now. In some cases, their decisions have been in favor of the currency and, in others, staunchly against it.
This new stand against the XRP holders came as a surprise and not many were expecting it. On Monday, Judge Torres ruled that the people who have XRP’s token cannot be defendants in the ongoing lawsuit.
She added that if they were defendants, the SEC would have to enforce an action against them, which would delay the case. However, she said that the token holders could be “amicus curiae” and advise on the case but not take part in the litigation.
XRP’s legal counsel is content with the action as it allows the token holders to put forward their views without being haunted by a legal body. They will be able to freely say what they want in court without the consequences of legal action.
This will bolster XRP’s stance and make SEC reconsider its stance on cryptocurrencies in general. With the SEC already allowing Coinbase to roll out their new feature, there is a high chance that XRP will have no problems in the future.
With the growing acceptance of crypto even amongst finance regulators, it is the best time to invest in it. Most of these coins will see an exponential rise in early 2022 and will peak by then. After that happens, they will be inaccessible to most and out of the common man’s reach.