With XRP plunging in value following a wave of exchange delistings and trading suspensions, Ripple Labs issued a statement Tuesday vowing to respond to the United States Securities and Exchange Commission’s allegations against the company.
The statement opens with the following message:
“The public and press have only heard the story from the SEC’s side, and we’ll be filing our response in a few weeks to address these unproven allegations against Ripple.”
The statement claims that the SEC is using Ripple to bring down the entire cryptocurrency industry in the United States and that, for years, the company has sought regulatory clarity on digital assets to no avail.
Some observers believe Coinbase’s decision to suspend XRP in January could be the death knell for the digital asset as Ripple embarks on multi-year litigation with the SEC. Coinbase announced its plans to suspend XRP trading on Monday – a move that was hardly surprising given the exchange’s IPO…