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SEC threatens lawsuits for XRP token holders

If holders of the altcoin XRP interfere with the process against Ripple, then the Securities and Exchange Commission (SEC) can sue them. This is stated in the appeal of the regulator to the US judicial authorities. Recall that at the end of last year, the SEC initiated a lawsuit against Ripple, accusing the company of selling unregistered securities, to which it refers to XRP tokens. Some investors began to interfere in this matter not only as outside observers. Through the courts, the altcoin holders even obtained permission to defend their interests. However, the Securities and Exchange Commission believes that such interference only harms further investigation into the activities of the token developer. In the appeal of the regulator to the judicial authorities, it is noted that a dangerous precedent is being created for future proceedings initiated by the SEC. This practice can lead to unpredictable and negative consequences. Representatives of the US judiciary have not yet commented on the regulator’s proposal. Note that at the end of last year, Brad Garlinghouse, who heads the Ripple company, criticized the SEC. He stated that XRP should not be classified as a security.

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