Ripple Labs made a statement in response to allegations leveled by the Securities and Exchange Commission (SEC) last week.
"The public and the media have only heard the story from the SEC and in a few weeks we will prove the allegations against Ripple baseless."
Ripple also told the SEC to use Ripple as a ‘scapegoat’ to bring down the crypto industry in the United States (US) as they have been waiting for years for clearer and more transparent cryptocurrency laws.
Meanwhile, concerns have also arisen following Coinbase's decision to block XRP in January will be the starting point for digital assets when Ripple is first tried by the SEC which is expected to start on February 22, 2021.
The dumping of crypto exchange platforms began to drop XRP as a trading asset in order to avoid legal tempias.
Meanwhile, Ripple will continue to operate and support its entire product outside the US as the majority of its customers are not from that country.
For example, the United Kingdom (UK), Japan, Switzerland and Singapore which have legal transparency for the use of XRP.
At the time of writing, XRP is trading at $ 0.20, down 9.29% from its 24-hour high.
