Bitcoin Heat News

Altcoin News

XRP Army Petitions White House to Stop SEC’s Lawsuit Against Ripple


A member of the XRP group has filed a petition with the White Area inquiring for the SEC lawsuit to be haltedThe petition cites that FinCEN already declared XRP a foreign moneyFurthermore, the SEC lawsuit against Ripple has brought about massive damages to XRP holdersSuch monetary damage is in contrast to the SEC’s mandate to protect retail investors

The XRP army has been recognized to be considered one of the most powerful and determined within the crypto-verse. it’s with this determination that an XRP neighborhood member has filed a petition with the White Space to stop the SEC’s lawsuit against Ripple.

The petition used to be highlighted through veteran Bitcoin and crypto analyst, MagicPoopCannon, by means of the next tweet. Magic goes directly to request the XRP military to sign the web petition that needs 100k signatures.

Please sign and PROPORTION this petition to the White House, referring to #XRP!

— MAGIC (@MagicPoopCannon) January 3, 2021

XRP used to be Already Declared a Currency by means of FinCEN

According to the petition that is to be had on-line, XRP had already been deemed a foreign money through the Financial Crimes Enforcement Community (FinCEN). The petition explains this as follows.

Read;  XRP Could Hit $440 due to Runaway Inflation & Money Printing – Analyst

The Securities and Alternate Commission is tasked to give protection to investors in US Securities. It however, has filed frivolous motion claiming the cryptocurrency, XRP, which has already been deemed a foreign money by way of FinCEN, to be a security.

XRP Holders Suffered Irreparable Hurt and Damages

The petition to the White Area is going on to give an explanation for that XRP holders suffered irreparable financial damages because of the market reaction as a results of the inside track of the SEC suing Ripple. It is going to explain that such harm is in contrast to the ethos of the SEC in phrases of shielding retail traders from financial harm.

Due to this action, the 40 billion dollar market for the currency is abruptly failing as companies scramble to maintain compliance. Billions of bucks of value is being wiped from the marketplace in fast succession and most severely, loads of hundreds of ordinary Americans – the very Americans that the SEC is tasked to give protection to – are struggling irreparable harm and damages.

The SEC complaint is destructive to the holders of the currency XRP, and should cease instantly.

Leave a Reply