The XRP/Ripple vs SEC lawsuit has been chaotic to say the least, the case as a whole is really pivotal to the wider cryptocurrency movement and now there has been a really key development to the case. Empower Oversight have got involved.
Who are Empower Oversight?
Empower Oversight Whistleblowers & Research (EMPOWR) is a nonprofit, nonpartisan educational organization dedicated to enhancing independent oversight of government and corporate wrongdoing. EMPOWR works to help insiders document and report corruption to the proper authorities while also seeking to hold authorities accountable to act on those reports.
How does this affect the XRP/Ripple vs SEC lawsuit?
Well, up until now, this case could easily be described as a David vs Goliath situation. The SEC have incredible resources of course and the case has already cost Ripple (who founded XRP) approximately $200 million. So with Empower Oversight filing a complaint against the Securities and Exchange commission in the United States District Court for the District of Columbia to force the agency to comply with a December 2022 FOIA Request. The complaint being about conflicts of interest and selective enforcement by the former SEC official William Hinman regarding crypto projects like XRP. You could argue that David now has a couple more friends in their corner, though really the general consensus online seems to suggest that the vast majority of the crypto community is on XRP/Ripples side.