On Saturday, Ripple CEO Brad Garlinghouse took to his twitter account to say that the U.S. Securities and Exchange Commission (SEC) is not fulfilling its obligations to users by continuing its enforcement process.
An interesting fact is that the commission receives funding from the government at the expense of taxpayers' money. The SEC was looking to get even more money to increase its digital currency control division, not considering the fact that the workforce doubled not so long ago.
Since December 2020, a trial between the SEC and Ripple has happened. The SEC claims that XRP is an unregistered security. While the primary duty of the US Securities and Exchange Commission - to protect consumers, there is reason to believe that XRP holders and firms that use XRP and XRP Ledger in the US have been hit the hardest in this legal war.
XRP users hope that the judge will listen to them and to the companies that use these tokens. At the moment, there are 2 firms that have filed a lawsuit, claiming that XRP is useful.
Everyone hopes that this case is coming to an end. And the head of Ripple thinks that the decision will be made in the 1st quarter of 2023. But this has little to no effect on the current operation of Ripple, since 95 percent of its customers are not located in the United States.
