Investors who are aiming to intercede in the proceedings of the US Securities and Exchange Commission and the company Ripple are forcing the watchdog to initiate legal actions against them, the agency declared in a statement to the court. The SEC reminded that it could decide against whom to initiate a case based on certain considerations.
At the end of last year, the watchdog accused Ripple of selling unregistered securities under the facade of XRP tokens costing $1.3 billion. Within the hearings, some of the investors gained permission to join the case and represent their interests. Nevertheless, the SEC does not concur with this permission.
“If investors are able to intervene now, this will establish a perilous precedent for future prosecution actions of the SEC,” – claimed the financial regulator.
At the end of April, Ripple CEO Brad Garlinghouse criticized once again the US agencies for categorizing XRP as a security. In his words, there is no other country in the world doing this. The head of the blockchain project further stated that he is very disappointed by the lack of transparency in the regulation of cryptocurrencies in the USA.
