In his latest Vlog that featured different predictions for Altcoins for 2022, Lark Davis presented to his half-million YouTube subscribers why crypto users globally should rally behind XRP Ripple in its lawsuit against the United States Securities and Exchange Commission (SEC).
The world-famous crypto analyst and social media influencer Vlogger has backed his presentation up with vivid explanations displayed in the video series he released on his YouTube channel.
SEC Vs. XRP Lawsuit
Earlier this month, on December 22, the United States Securities And Exchange Commission has revealed its intentions to undertake enforcement action against Ripple Labs Inc.
Ripple Labs Inc. is a California-based Fintech firm that leverages cryptocurrency tech to provide fintech services to its customer base. The corporation is the parent body that owns the XRP cryptocurrency token.
The SEC’s announcement on 16th said that the fintech and a couple of its executives that hold majority security in the industry have allegedly generated revenue of over $1.3 billion via an underhanded, unregistered mechanism
that utilized the fintech’s currently running crypto securities offering.
The lawsuit is perceived by most in the crypto industry as bullying by the SEC. It hasn’t explicitly revealed how the XRP mother lab violated their ‘unclear’ regulations.
Rancor and dissatisfaction towards the infamous regulatory body are at an all-time high in the country’s crypto community, and tension rises between industry leaders and regulatory commissioners.
The recent stance the regulator’s chairman, Gary Gensler, has taken, which considers all crypto assets virtually in the country are unrecognized securities, has only advanced the tension in the US Financial climate.
Davis’ Video Presentation Log
Lark Davis’ uploaded video comes after his Twitter thread that he tweeted a week ago on December 16, titled “Top eight enlightening and Unexpected crypto-based predictions for 2022.”
Notably in his predictions is the Ripple XRP price prediction he tweeted that:
“#XRP wins its court case VS the SEC. The SEC is a school yard bully at this point and is doing anything but protecting investors. The Ripple victory would be a net positive for the industry.”
— Lark Davis (@TheCryptoLark)
December 16, 2021
He uploaded the video and has recorded over a million views on YouTube at press time. Davis believes Ripple Fintech will come out on top in this judicial confrontation. He predicted that the win would go to fintech, and he is staunch in his belief that he wholeheartedly hopes that fintech will dazzle everyone and come on top.
The Canadian-based Influencer mirrored community members’ sentiments when he said that the SEC is a literal bully in the US DeFi sector, particularly the recently under-fire chairman Gary Gensler.
Davis concluded that Ripple bag victory against the SEC; will reduce the regulatory body’s arrogance and knock it down a peg, setting a significant precedent in the nation’s DeFi sector. He cited the reasons mentioned above as a powerful incentive that community members globally should rally behind XRP, further stating that an XRP win will set the nation’s future regulation-wise.