Game-Changing Evidence Emerges in Ripple vs SEC Lawsuit

The post Game-Changing Evidence Emerges in Ripple vs SEC Lawsuit appeared first on Coinpedia Fintech News

Bill Morgan, a crypto lawyer, recently took to Twitter to express his thoughts on the ongoing debate surrounding Ripple’s Liquidity Hub product. The debate erupted after an XRP influencer named Mr. Huber (@Leerzeit) on Twitter drew attention to Ripple’s freshly launched Liquidity Hub, which was advertised as the company’s B2B Crypto Liquidity API Solution.

Morgan remarks this move as great evidence 

Pro-XRP lawyer Bill Morgan said Ripple’s decision to exclude XRP from the product could be used as “great evidence [in the ongoing lawsuit] if the case goes to trial.” Morgan explained that the products launched by Ripple do not require XRP to function and that the cryptocurrency and its underlying blockchain, XRP Ledger (XRPL), can also thrive without Ripple incorporating it into every one of its products.

The attorney urged XRP enthusiasts not to be bothered about the issue because, after all, they don’t expect profit from Ripple’s efforts- one of the company’s major defenses in its case against the SEC.

Moreover, Morgan emphasized that starting May 2020, only Ripple’s ODL customers have been able to purchase its on-demand liquidity (ODL). The new Liquidity Hub, however, wasn’t just for ODL customers or people using international payments. Morgan argued that perhaps LH needed deeper liquidity pools than any single asset, like XRP, could offer.

Ripple has since modified its Liquidity Hub statement to address the concerns raised by the absence of XRP from the list of assets.

“XRP will be evaluated along with other tokens for support within the product. We look forward to supporting XRP as it receives regulatory clarity in the US.”

What is Ripple’s reason for this? 

Ripple attributes XRP’s absence to the unclear regulatory situation around XRP in the United States. It promised to evaluate XRP alongside other assets for prospective inclusion in the program once the sixth-largest cryptocurrency in the world has regulatory certainty in the United States.

Is the decision to exclude XRP from the liquidity hub despite an earlier promise to include it justifiable? What is your opinion on this development?