Ripple weekly recap: the Sec series, Japan’s first ODL and CBDC, continues

The SEC’s case against Ripple showed a new development, and the prosecutor’s Commission personally wrote to the U.S. District Judge. Let’s get a quick look at what’s going on in this case and other actions in the Ripple XRP ecosystem. 

Commissioner’s statement does not reflect official position: SEC
The legal standoff between the U.S. Securities and Exchange Commission and Ripple XRP has decimated. Earlier this month, Ripple cited disclosures by Sec commissioners Esther Pierce and Elad Roisman in support of the exchange case against the SEC. a statement from the respective commissioners was made in connection with the SEC’s recent mandatory measures and settlement with the blots. 

Ripple’s defense attorney, Michael Kellogg, told U.S. District Judge Analisa Torres::,

“This testimony of the two Sec commissioners makes it even clearer in the time involved in the case that the public honestly did not know what the law required.”

But this week, the SEC said the disclosures made by the commissioners should not be taken into account because their personal views do not affect the organization’s official stance.

SEC attorney Mark Sylvester wrote to Judge Torres, 

“The statement cannot be based on the assumption that the Constitution prohibits the application of the Securities Act’s registration requirements to ripple behavior. This disclosure also cannot serve as a reason to dismiss the SEC’s claims that individual defendants supported and supported their own bids and sales and other conduct, as well as Ripple’s unregistered offers and sales.”

First ODL service deployment in Japan based on XRP 
Ripple is looking for faster and more affordable bank transfer options for its Japanese customers. The Philippines is the third-largest bank transfer destination for Japan, with the country having one of the highest bank transfer rates in the world. Liquidity on demand (ODL), t of companies

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