A member of the XRP community has filed a petition with the White House requesting the SEC lawsuit to be halted
The petition cites that FinCEN already declared XRP a currency
Furthermore, the SEC lawsuit against Ripple has caused massive damages to XRP holders
Such financial damage is in contrast to the SEC’s mandate to protect retail investors
The XRP army has been known to be one of the strongest and determined in the crypto-verse. It is with this determination that an XRP community member has filed a petition with the White House to stop the SEC’s lawsuit against Ripple.
The petition was highlighted by veteran Bitcoin and crypto analyst, MagicPoopCannon, via the following tweet. Magic goes on to request the XRP army to sign the online petition that needs 100k signatures.
The Securities and Exchange Commission is tasked to protect investors in US Securities. It however, has filed frivolous action claiming the cryptocurrency, XRP, which has already been deemed a currency by FinCEN, to be a security.
Due to this action, the 40 billion dollar market for the currency is rapidly failing as companies scramble to maintain compliance. Billions of dollars of value is being wiped from the market in rapid succession and most critically, hundreds of thousands of ordinary Americans – the very Americans that the SEC is tasked to protect – are suffering irreparable harm and damages.
The SEC complaint is damaging to the holders of the currency XRP, and must cease immediately.