Crypto has been the hot new thing in the market that has managed to capture everyone’s attention. It is part of the decentralized financial system that is coming up and can operate without the government’s intervention.
Many people have said that this would be liberating, but financial regulators are against cryptocurrencies and the DeFi system in general. In recent times USA’s SEC has been hounding some of the biggest names in crypto and making their lives hard.
But one of them is taking a stand against this borderline bullying and has said that they will go to trial if necessary. This is none other than Ripple, and they say it is necessary to take a stand at this time to minimize government intervention.
Cryptocurrencies operate on the concept of a free market and are highly volatile, to say the least. They offer next to nothing in terms of sureties but are a great up-and-coming market for investors.
With Bitcoin prices soaring, there has been a rise in acceptance amongst the people for the currency. This means if accepted by the masses, leading financial regulators will be forced to accept it too.
Ripple is one of the many cryptocurrencies that have been hounded by the SEC in recent times. This comes after many people have asked for the government’s intervention in the market. Ripple’s current defense team says that they are very confident in their product and current market position. They are willing to go to trial and get the SEC off their trails if that is what it takes.