Pro-XRP Lawyer Exposes What the SEC ‘Didn’t Say’ About Ripple’s Boldest Claim

Pro-Ripple lawyer Bill Morgan, who has been positively vocal about XRP for years now, posted a viral tweet a few hours ago; he was not kind to SEC.

Pro-XRP lawyer, Bill Morgan, known for his positive stance on XRP and frequent involvement in cryptocurrency discussions, took to X, formerly Twitter, to share an interesting observation about the now-dropped SEC lawsuit against Ripple.

In his post, Morgan highlighted a promotional card used by Ripple to promote its XRP system. The card, which was shared in the image attached to the post, clearly stated that Ripple's system can settle payments across borders “in seconds, not days.” This was one of the main selling points for XRP that Ripple used in its marketing materials.

Morgan then noted that despite having plenty of chances to do so, the SEC never once said that this claim was false. They had several opportunities to call out Ripple if this wasn't true. For instance, they could have mentioned it in their initial complaint, or questioned it during their investigation. Additionally, they could have brought it up during settlement talks. However, they chose not to.

This silence from the SEC might actually prove something. If Ripple was lying about how fast their system works, wouldn't the SEC have jumped on it? The fact that they didn't suggests that Ripple was telling the truth all along.

This point becomes even more crucial now that Ripple and the SEC have reached a settlement and dropped all claims against one another. As part of their agreement, Ripple will pay $50 million in fines and the SEC will not seek any permanent injunctions. Both sides will also cover their own legal fees and expenses.

The SEC had initially demanded $125 million in fines and $75 million in back pay into an escrow account used to distribute the cryptocurrency to investors. However, in the end, they got neither. Not only this, but the pair also dropped all pending appeals in the case.

Now, the SEC is expected to ask for permission to let institutions buy and sell XRP again. This is a big win for Ripple as it will allow major financial institutions to invest in XRP without fear of running afoul of the SEC.

The settlement also means that the SEC isn't going after Ripple anymore about how they marketed XRP or what they claimed it could do.

Morgan is basically saying that if the SE had proof that Ripple was lying about transaction speeds or other claims, they wouldn't have settled on these terms and dropped all pending appeals.

This outcome helps clear up some doubts about XRP and might encourage more banks and financial companies to use it. It also removes the legal cloud that was hanging over XRP's basic functions.

For people who support XRP, Morgan's observation backs up what they've believed all along - that Ripple's system really can do what the company says it can do.