A recent statement by crypto commentator Stellar Rippler discusses potential reasons and implications of the SEC lawsuit against Ripple and XRP, questioning its true motivations.
Background and Stellar Rippler's Assertions
According to Stellar Rippler, the SEC's lawsuit against Ripple was not merely initiated to ensure XRP's compliance with securities law. Instead, it suggests that the SEC's actions were aimed at delaying the development of Ripple's private ledger, which is thought to have the potential to significantly alter the global financial system. This assertion challenges the conventional understanding of lawsuits beyond the protection of retail investors.
Capabilities of Ripple's Private Ledger
In 2021, Ripple announced a private version of the XRP Ledger, intended for use by central banks and major financial institutions. This private ledger, unlike the public XRP Ledger, is not accessible for transaction tracking but is said to support central bank digital currency issuance and can process over 10,000 transactions per second. Stellar Rippler contends that this technology was designed to facilitate institutional-level solutions, allowing central banks to conduct secure and efficient digital asset transfers.
Impact of the SEC Lawsuit on the Global Financial System
There is an emerging perspective that the SEC's lawsuit against Ripple aimed to delay the launch of the private ledger, particularly given developments in the financial market. Stellar Rippler claims that regulators and large financial organizations were already aware of the new technology's capabilities, which may have prompted preemptive measures. Furthermore, it's noted that Ripple has been involved with over 20 central banks, though the details of these interactions remain confidential.
The SEC lawsuit against Ripple raises numerous questions about its true motivations and potential consequences for the financial sector. While this assertion remains a topic of debate, it is important to monitor the unfolding situation, which may continue to impact the global financial landscape and the prospects of digital assets.
