XRP investors invites non-US investors for the investigation of SEC

XRP and the US Securities and Exchange Commission’s (SEC) fight is continuing. Following the lawsuit, the lawyer for 63k coins investors invited non-US investors to demand a congressional investigation of the SEC for impropriety. Notably, more than 17k individuals have signed a petition calling for the US Congress to investigate the impropriety and conflict of interest in bringing a lawsuit against Ripple Labs, owners of 55% of all the XRP cryptocurrency mined.

International XRP holders are frustrated

The petition was begun by attorney John Deaton to give voice to international XRP holders. Notably, the petition states that foreign investments in XRP have made its investors grievously unhappy rather than protected by the authority.

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When the financial regulator sued for allegedly selling the native cryptocurrency as an unregistered security. 

According to Deaton, the international investors were not having their voice heard. Hence, the non-US hodlers have been frustrated because of the impact that the nation has on them and so it really is a way for them to make sure their voice is heard.

Deaton represents the native cryptocurrency holders

Deaton represents more than 63k investors from 60 nations and the US too. Being a friend of the court, Deaton said many foreign investors are citizens of nations that have officially determined the cryptocurrency is not a security and have been harmed because of the actions of the financial regulator.

Deaton also highlighted that The Japan Financial Services Authority has said that Ripple’s native cryptocurrency is not a security. Besides the UK Financial Conduct Authority, Singapore, Switzerland, and United Arab Emirates have also claimed similar stances.

SEC officials have colluded with outsiders

Deaton has created a dossier and a timeline that signals that the financial authority might have colluded with outside parties to regulate crypto in line with their personal financial interest. These claims came as per the petition.

Notably, on the lawyers law firm’s website it is highlighted that the financial authorities in the United States seem to have given a regulatory free pass to Ethereum.