Stock Exchange Commission (SEC): Are Ripple activities related to XRP token price?

Stock Exchange Commission (SEC): Are Ripple activities related to XRP token price?

Ripple's exploratory feuds with the US Securities and Exchange Commission are heating up with another letter to Judge Sarah Netborn, defending the decision to contact foreign lawmakers.

The agency claims that it seeks information from overseas entities to refute some of the company's key defenses.

In particular, it is trying to find out whether Ripple activities are related to the price of the XRP token. Obtaining daily trading data from foreign exchange offices is the only way to determine this. Because defendants claim that they are the only sources of pricing information:

"In addition, there is a growing demand for evidence for Ripple's defense. One of these cases is Ripple's defense, which claims that the price of XRP is not determined by Ripple activity. D.E. "51 ¶ 13, a defense to which the daily trading price of XRP on foreign platforms (used by Ripple, which Ripple says is the only source of this pricing information) is unquestionably relevant."

The SEC application is not legally binding

The Securities and Exchange Commission claims to be seeking information from 20 foreign entities and their affiliates.

The statement said foreign entities could reject MOU requests if they thought they were "heavy" or "inappropriate".

Ripple's lawyers claimed in their letter that more than 20 SEC targets are based in the United Kingdom, Singapore and Japan, countries where local lawmakers have recognized that XRP is not a security.

XRP tokens will soon be integrated with DeFi applications

XRP tokens will soon be integrated with DeFi applications

The company (Wanchain) is about to merge with (XRP) and will provide liquidity extraction and build farming.

According to a recent announcement by Jack Lu (CEO of Wanchain), decentralized cross-chain bridges of XRP, the fourth largest cryptocurrency in terms of market value, will be activated in the main network:

This means that XRP tokens can now be used to extract liquidity and build farming.

This cross-chain integration allows XRP owners to take advantage of various applications in Wanchain and Ethereum as well, and can interact with Bitcoin and EOS, the two previously added chains.

Emi Yoshikawa, chief executive of Ripple Global Operations, said he was very excited to see the XRP ecosystem expand to support new uses such as DeFi.

Rumor has it that the Kevin Bass exchange intends to resume XRP trading

Rumor has it that the Kevin Bass exchange intends to resume XRP trading

 Rumor has it that US exchange Kevin Base intends to resume XRP trading on its platform. Kevin Bass executives have not yet commented on the matter.

In December 2020, the US Securities and Exchange Commission (SEC) accused Ripple and its top executives of boarding out Garlinghaus and Chris Larsen of "offering unregistered digital asset stocks" to investors. Many exchanges and trading platforms, including Quinn Base, stopped trading XRP, while many others removed the digital currency from their trading list.

A Twitter user nicknamed Krish xrp noted that Kevin Bass was preparing to resume Ripple trading, and attached a photo below, noting that work was underway.

Overall, there is hope for XRP investors that other exchanges can follow suit and resume XRP trading.