In today’s video, we will talk about the Ripple Test. You will know the reasons behind this ripple
test and why we need this Ripple test. You will also know about the recent price analysis of XRP
and what does the future hold for its value. So, let’s start our video.
It was reported by coinbase that It is time for the US to create a ‘Ripple test’ for crypto. Most
crypto enthusiasts are less than pleased with the United States Securities and Exchange
Commission’s past approach to crypto. This is not because legitimate businesses oppose
regulation but because of the breadth, complexity and uncertainty associated with the current
regulatory regime. Even in the context of general discontent, few actions by the SEC have
engendered as much widespread criticism as the Dec. 22, 2020 complaint that initiated a civil
enforcement action against Ripple Labs and two of its executives. Not everyone opposed the
action. For example, Coin Center, a pro-crypto nonprofit advocacy and research group, declined
to argue against the idea that XRP is a security.
On the other hand, there are plenty of voices condemning the SEC’s case. This includes
complaints by former SEC official Marc Powers, current SEC Commissioner Hester Peirce, and
a pending lawsuit arguing that Ripple’s XRP token is not a security, in which thousands of XRP
holders have sought to participate. The Regulatory Transparency Project, a nonprofit,
nonpartisan group associated with the Federalist Society, sponsored a teleforum on June 24 titled
“SEC v. Ripple Labs: Cryptocurrency and ‘Regulation by Enforcement.’” With a pre enrollment
of more than 500 members of the public, the audience was overwhelmingly unhappy (and
unimpressed) with the SEC’s action against Ripple and its XRP token.

#XRP #Ripple
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