SEC responded to Ripple, calling their defense insolvent Th | DeFi - news, reviews, articles

SEC responded to Ripple, calling their defense insolvent

The letter from the SEC lawyer said that Ripple seeks to avoid responsibility, citing the vagueness of the legal regulations and the fact that the regulator did not notify them in advance about the violation of the law.

It is noted that the SEC is not obliged to warn anyone about the commission of illegal actions, and the recognition of XRP as a currency by other departments does not exempt from liability for violation of the securities law

Also, the SEC intend to appeal additional statements of innocence of the co-founders of Ripple Brad Garlinghouse and Chris Larsen.