XRP Army has actively joined the battle in the legal case between Ripple and the US Securities and Exchange Commission (SEC), showing support for the cryptocurrency payments company in a recent petition. The petition calling attention to the SEC’s harmful enforcement actions, together with its section recent appeal It has already collected thousands of signatures from various community members.
XRP Army Files Petition Against SEC
The XRP army, consisting of millions of Ripple supporters, XRP Investors and ordinary enthusiasts are uniting to oppose the SEC’s latest legal attack on Ripple. October 2 regulator filed an appeal refers to the 2023 ruling by Judge Analisa Torres that decided this XRP status not related to security.
In an attempt to undermine this appeal, the XRP army has officially fired petition on October 3 to express frustration with the SEC’s enforcement actions against Ripple and almost four years venerable legal dispute. The XRP Army revealed that the purpose of the petition, which was published on Change.org, was to completely end the SEC’s appeal and ongoing legal proceedings against Ripple.
In the petition, XRP described its unfortunate past experiences with SEC lawsuit against Ripple in 2020. They revealed that they have been in an ongoing battle with the regulator for almost four years, a period characterized by concerted community efforts to publicly and vociferously defend Ripple’s legality.
Despite their efforts to shed SEC Legal Restrictions on Ripplethe regulator has consistently pursued this goal classify XRP as a security. The petition condemned the agency’s latest attempt to challenge the court’s ruling, calling its recent appeal “serious” while arguing that it adds unnecessary complexity and uncertainty to the broader digital currency industry.
Currently, the XRP Army petition is closing in on its goal, gaining 9,935 signatures out of its target of 10,000. As of this writing, 1,452 recent supporters have signed, with even more expected to join before the end of the day.
SEC Calls for Broader Implications for the Crypto Space
In a recent petition, the XRP army criticized the SEC for does not fulfill its basic mission, which is to protect investorsmaintaining equitable growth and supporting capital growth in the country. They claim that the regulator instead prolonged legal action against Ripple, ultimately causing XRP is hurting XRP investors and the broader crypto industry.
The XRP Army noted that the SEC’s recent appeal is baseless and targeted threaten the future of XRP and the crypto space as a whole. They stressed that the ramifications of the regulator’s lawsuit against Ripple go beyond the cryptocurrency payments company and have larger ramifications for the entire digital asset industry.
As a result, the XRP Army has called on the entire community to support a petition created to protect the interests of all digital asset enthusiasts around the world who are inspired by the future of the decentralized finance (DeFi) ecosystem.
Featured image created with Dall.E, chart from Tradingview.com