- As the XRP price plummeted and Ripple was preparing for court, a group of XRP enthusiasts filed a petition that could force the White House statement on the SEC case claiming Ripple made an unregistered securities offer.
As the XRP price plummeted and Ripple was preparing for court, a group of XRP enthusiasts filed a petition that could force the White House statement on the SEC case claiming Ripple made an unregistered securities offer.
“XRP should be considered as a currency.”
“We People ask the federal government to consider XRP as a currency,” on the We the People website operated by the White House. A petition titled passed 10,000 signatures.
Created by the Obama administration in 2011, We the People allows users to create petitions that will allow them to provide a formal White House response after reaching 100,000 signatures within 30 days.
Americans also suffered
“J.W.” The XRP petition created by him asks the SEC to halt the “nonsense” case, citing a previous FinCEN determination that XRP is the currency. The petition also referred to the rapidly deteriorating market cap of XRP and the hundreds of thousands of Americans who suffered “irreparable damage.”
Ripple is preparing for court
As Ripple prepares for a pre-trial conference in February, the petition effort turns out to be one of the first things that could prove to be a lengthy and controversial legal process. After the SEC filed a lawsuit on December 22, the number of major exchanges removing XRP from the list continues to increase. Ripple made a statement urging investors and the press to wait to hear from the company’s side before reaching any conclusions.