In the crypto community, there is a belief that Ripple's legal battle with the SEC may be more performance than actual prosecution. Meanwhile, leading attorneys have differing opinions on this matter.
Discussion of the Spectacle Theory
There is a notion within the crypto community that the Ripple vs SEC lawsuit serves a strategic purpose, controlling the price of XRP while the company establishes significant international partnerships. This assumption about a 'spectacle' is sparking debate among experts.
Current Status of the Ripple vs SEC Case
The year began with optimism for resolution. In March, Ripple accepted a reduced civil penalty of $50 million, while the SEC indicated it would seek to remove the injunction on institutional XRP sales. However, this momentum stalled when Judge Analisa Torres rejected two joint motions from both parties attempting to lift the injunction and conclude the case.
Morgan's Position on Delays and Manipulation
Bill Morgan, a noted attorney and XRP supporter, criticized the proposed joint motions, labeling them as 'weak'. He noted that while the case is delayed, the reasons are not linked to manipulation or conspiracy, but rather to deficiencies in legal strategy. Morgan asserts there are no grounds for the conspiracy theory, despite the prolonged process.
The legal battle between Ripple and the SEC continues to draw attention within the crypto community. Despite the varied opinions on the situation, it is important to monitor developments and understand that prolonged procedures do not always indicate manipulation.
