What is the newest in the continuing court case between the SEC and Ripple? A week ago, the capital watchdog stated that it is doubling the size of its cyber unit as well as crypto assets. SEC is trying to add new groups, at least 20 additional litigators. As per the agency’s declaration, securities petty misdemeanors encompassing a range of cryptocurrency market entities will become the central objective of these freshly formed SEC units. However, even after these many attempts, the SEC does not seem to stop XRP investment in 2022. Why? Let us find that out from this post.
Why The SEC Could Not Stop XRP Investment In 2022?
The regulator is clearly off its game, and the team is finally revealing its real colors. It is trying to sabotage cryptography initiatives in some way. The recent event is really disheartening, no matter how people observe it. In reaction to this announcement, one SEC commissioner questioned the watchdog’s involvement in the cryptocurrency industry. The Securities and Exchange Commission is a watchdog with an investigation section, not a police agency. The Commissioner tweeted immediately and the news surfaced. So, what makes regulators the forerunners in crypto-enforcement? The response from the Commissioner indicates that the SEC has failed in its standing.
Experts are all conscious of how critical immediate and adequate regulation is. Cryptocurrency markets have lately surged, with regular investors suffering the brunt of misusages. Cyber-related dangers continue to endanger participants as well as financial markets. The unit that is expanding will be the frontier. It will play its role to maintain order in the market. As appealing as that might seem, the SEC’s regulatory objective is incorrect. Scam ventures and dubious people in the business, not new currencies, must be the objective. A lot of scams are flowing into the country freely. The SEC is not focusing on them.
It should be their first priority. There is no need to acknowledge that the regulator has yet to issue any rules on how it wants to regulate the cryptocurrency industry. Consequently, fresh crypto ventures have no understanding if they are doing things correctly or incorrectly. As the sector is not controlled, crypto creators frequently find themselves in a state of limbo. They are really confused. Is it valid to hold the crypto creators legitimately accountable for errors that happen? Never! The irony is that the watchdog is not doing anything to address this issue. It is trying to meddle unnecessarily.
Since the regulator is mainly concerned with initiatives that will make them the most cash, it has lately boosted the growth of officers on its payroll. Because of that, Ripple may win its legal struggle since the influence of the SEC would be significantly limited. The SEC is handling things in an inappropriate way. So, promising ventures will be driven out of the country, which is a matter of deep concern. In any case, that will create a detrimental influence on the world of cryptocurrencies in the next coming years. People may come across more scams if they are looking for new tokens.
In the SEC and Ripple issue, there is a fresh SEC statement. RPI asked for more opportunities to react to SEC allegations of attorney-client confidentiality about Ethereum Free Pass communications made to Ripple. As previously reported, Empower Oversight got a trove of Hinman’s communications and made them available to the public. The company now has more time to reply to the SEC’s demand for attorney-client confidentiality protection for these communications. This allows Ripple more opportunity to oppose this proposal. Nevertheless, the regulator has sought a rebuttal to Ripple’s argument that the communications are not covered.
Will XRP Rise After 2022?
There are a few chances for the price of XRP to rise. Still, you cannot expect the Ripple price at 100 dollars. Ripple performs numerous functions. However, the main point it accomplishes is to pioneer a new method of transmitting money over the world. The standard method of moving money across borders is known as Swift. It does, nevertheless, take some days and has a significant transaction cost. People may transmit funds in a short time using XRP. You can approach an exchange platform to buy XRP. Some exchanges have delisted it. You must keep yourself updated on cryptocurrencies.
Final Thoughts
In this post, you have seen that the SEC does not have a great chance to stop XRP investment in 2022. You can happily invest. Still, it is not a cryptocurrency that will grow like Bitcoin, Ethereum and other ones in the market. No skyrocket must be expected. XRP may reach $2 to $5 in the next coming years. Not more than that. Market watchers have observed that XRP has struggled a lot to reach a dollar from the time it started the journey. XRP is a good investment because of many factors. Ripple may actually win the case.