According to the XRP staff, the Securities and Exchange Board of the United States (SEC) will hold a new conference on May 21st. The reason is that Ripple does not like current regulatory decisions taken by SEC. At the time of the aforementioned statements, Ripple had announced that they would be publishing a series of documents about the regulatory status of XRP. Ripple’s defense to the CFTC’s request for documents is that they are beyond the agency’s purview and an abuse of investigative powers. The CFTC is seeking access to Ripple’s pre-launch checklist, sources of financing, the identities and related information of third parties that have been enlisted by Ripple in connection with its sale of XRP tokens, as well as information about how XRP tokens have been marketed.
The primary point of contention in the SEC’s request for a MoU appears to be the disclosure of foreign bank records, which are subject to strict privacy laws. Many Swiss banking law experts think that the SEC may use a subpoena instead. A recent conference on this subject took place on April 30.
EOS and KIK have both been ruled on by the SEC. EOS paid a fine to settle allegations of unregistered IPO’s, however KIK was never fined for their actions. One of the biggest issues with EOS is that they are not a blockchain project, and do not offer anything unique. New Ripple news is that the entire SEC has lost their XRP cases. A joke, right? The SEC will continue to monitor and track XRP markets FOREVER. Meanwhile, the (US) market might decide that this past litigation isn’t worth (or be worthy of) a multi-trillion use case. So let’s look at some of the bull’s reasons to stay bullish on XRP:
You can see the XRP price here.