MoneyGram has announced that it will be temporarily suspending the use of XRP and taking a step back from its partnership with Ripple Labs, in light of the fintech firm's legal battle with the SEC.
The outcome of the SEC case against Ripple will have huge repercussions for the crypto industry, and it may pave the way for how other cryptocurrencies are regulated in the United States.
With the pretrial for the SEC lawsuit against Ripple Labs looming, a joint letter has been presented by both parties to lay out arguments for the case.
Joseph Hall, a partner at Davis Polk law firm, thinks that Ripple has a good chance of winning the legal case the SEC has built against XRP cryptocurrency.