Like all cryptocurrency companies sued by the U.S. Securities and Exchange Commission (SEC), XRP was initially seen at a very disadvantageous position. While it was thought that XRP would be on the losing side in this legal struggle, suddenly the winds of change began to blow. Now, the belief that XRP can win this war has definitely increased dramatically.

Ripple has come very close to changing the situation with the logical steps it has taken recently and the evidence it has obtained. Legal experts think that XRP may triumph in the coming dates. James K. Filan, Ripple's community defense attorney, touched on this in a statement on Twitter. Filan reminded that the last request of the SEC was rejected by the court and now the end has come.

ripple sec

In Filan's tweet, it was stated that the fact that Ripple's objection to the SEC's request to hide some documents was found to be justified actually determined the course of the case. In fact, Ripple CEO Brad Garlinghouse was confident of himself and that they would win from the beginning of this case, but many people did not believe him until recently.

The decision of the case, which has been going on for 18 months, will be critical for the entire cryptocurrency industry. A decision in favor of the SEC makes XRP a security and sets a precedent for the entire cryptocurrency industry. It can be expected that other cryptocurrencies will face similar lawsuits in the future. The decision in favor of XRP may not only enable XRP to be relisted in the US, but also enable Ripple to complete its expected IPO.

Canadian Move From Ripple (XRP) Arrived

Blockchain company Ripple (XRP) has opened its first office in Canada, according to an announcement made on Wednesday. The new Toronto-based office will serve as the company's "key engineering centre." Garlinghouse says there's a lot of talent in the nation's most populous city.

brad garlinghouse

Ripple will launch a hiring spree in Toronto, aiming to hire “hundreds” of blockchain software engineers over the long term. Garlinghouse said the company will continue to recruit, unlike other major crypto companies such as Coinbase, which have drastically reduced their workforce. Ripple reported that the company has a “significant” cash balance that will enable it to weather the ongoing crisis. Garlinghouse said in a statement that a large number of talented engineers are leaving traditional finance to enter the cryptocurrency space. Toronto Mayor John Tory said Ripple would be a "perfect fit" for the city and praised the company's "innovative technology."

Prior to opening its first office in Canada, Ripple collaborated with several Canadian universities as part of the University Blockchain Research Initiative (UBRI) program. However, a short time ago, a Japanese financial giant bought shares from SBI Bank, which is known to be an XRP supporter, and it was discussed that this could have positive effects for XRP in the long run. Ripple, which is ambitious about international payments, signed agreements with payment providers in many countries outside the USA in 2021. Recent deals have covered the UK and Brazil.