While Ripple continues to strive to maintain its value, a petition has been published online that, after being signed by Ripple supporters, will be submitted to the White House to end the dispute between the US Securities and Exchange Commission (SEC) and Ripple. to be given.
To Report Cryptopotito, the situation is not so favorable for Ripple and XRP digital currency. Over the past 24 hours, another $ 94 billion has been added to the total market value, and bitcoin charts show a staggering 16.5 percent growth; Meanwhile, the price of Ripple has dropped by 5% at the same time.
In a move that looks like an interesting development, a group of supporters of this digital currency are seeking the mediation of the White House in the case of the allegations made by the Stock Exchange and Securities Commission against Ripple.
An interesting petition entitled “We the People Ask the Federal Government to Consider Ripple Virtual Currency as a Currency” has been published online to collect the signatures of Ripple supporters.
The petition argues to explain the case:
The US Securities and Exchange Commission has filed a baseless complaint against Ripple Digital Currency; Because the US Financial Crimes Network (FinCEN) had previously approved this digital currency as a securities token.
This document explains:
As a result, companies are struggling to comply with the rules, and the $ 40 billion market for this digital currency is falling rapidly. Billions of dollars in value are rapidly disappearing from the market, and most importantly, hundreds of thousands of Americans, the same Americans whose securities and securities commission is responsible for protecting their capital, are suffering irreparable damage.
The petition was drafted by a person named .JW on December 29, 2020, and requires 100,000 signatories to receive a response from the White House, and by the time this article was written, more than 18,000 people had signed it. Have.
The petition for the “immediate cessation” of the petition is a complaint by the US Securities and Exchange Commission against Ripple, as it would hurt Ripple currency holders.
The general tone of the lawsuit is almost identical to Ripple’s official position, which stated:
Unproven allegations against Ripple have so far hurt countless innocent investors who have nothing to do with the company.
The digital currency has lost much of its value (about 70 percent) since the US Securities and Exchange Commission formally charged Ripple in late December.
On February 22, 2021, a conference will be held before the first Ripple case hearing in the presence of Ripple Company and the US Securities and Exchange Commission. However, it seems that due to the sharp drop in the price of Ripple, many investors in this digital currency have already suffered huge losses.
One of the direct consequences of this complaint was the immediate action of many important exchanges to remove or announce the removal of Ripple from the list of digital currencies of their platform. Some of the most well-known exchanges that removed Ripple from their list are Coinbase, the US division of Binance US, and Bitstamp.
Update: At the request of esteemed users of digital currency, link The petition of Ripple supporters was attached to this news. Use a proxy to view this link.