The SEC’s regulatory activities have again urged market participants to oppose the agency. Ripple supporters have urged Elon Musk to join them in the fight against the securities regulator. This follows the filing of an allegation against the SEC by Tesla’s CEO.
Musk clashes with SEC again
In the letter addressed to U.S. District Judge Alison Nathan of Manhattan, Musk and Tesla’s attorney, Alex Shapiro, stated that the SEC was hounding its clients with numerous investigations.
Shapiro believed the committee did this because Musk remained an outspoken critic of the government.
Worst of all, the SEC appears to be targeting Mr. Musk and Tesla for unrelenting investigation, largely because Mr. Musk remains an outspoken critic of the government, Shapiro wrote.
He added that the SEC is out to deny Musk his right to free speech. CNBC reports that Judge Nathan has asked the SEC to respond by Feb. 24.
The filing comes after Tesla revealed that the SEC had sued Musk over his Twitter activity.
This is not the first time Musk has clashed with the SEC over the matter. The SEC first sued Musk and Tesla for a misleading tweet in 2018. At the time, a $40 million settlement was reached.
Why XRP Supporters Want Musk To Join Them
With Musk’s latest complaint about SEC oversight, supporters of Ripple and the controversial XRP token have urged the billionaire to throw his hat on them too. Many Ripple supporters emphasize that the XRP community holds a similar grudge against the SEC.
One of those supporters, attorney John Deaton, pointed out that the XRP community, like Musk, was tired of the SEC’s tactics. Deaton invited Musk to join the XRP community in whatever capacity he chooses.
@Elon Musk more than a thousand of the 65K who have joined the fight against the SEC do not own #XRP† They joined them because they were fed up with the SEC’s overreach, extortion and bullying tactics. You can join and be a silent member or join and be front and center.https://t.co/mnRYX8cTTH
— John E Deathon (@JohnEDeaton1) February 17, 2022
Other XRP supporters have joined the call, stating that the XRP community “has a much bigger bite than Dogecoin”.
Meanwhile, the SEC lawsuit against Ripple is gradually advancing. The next expected date in the case is Feb. 24, when the SEC is to respond to Brad Garlinghouse’s request to sell the Estabrooks Notes, as attorney James K Filan says.
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Olivia’s interests span the entire cryptocurrency and NFT and DeFi industry. She remains as fascinated with cryptocurrencies today as she was in 2017 when she first started reading about them. She is actively looking for the latest Crypto related stories. When she’s not writing, she tends to her pet Chihuahua or prepares vegan recipes. Reach me at [email protected]
This post Ripple Community Calls for Elon Musk to Join Their Fight Against the SEC
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