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The pseudonymous founder of the DOQ token, DOQ Holiday, suggests that the U.S. government could seize Ripple’s XRP and other assets if the company is guilty of corruption or human rights abuse.
The expert made the assertion recently on X, citing Executive Order 13818, which allows the United States Department of the Treasury to seize the assets of any company involved in human rights abuse and corruption.
For context, former U.S. President Donald Trump signed the executive order in 2017 to “block” the properties of entities engaged in gross corruption and human rights abuse.
US Government Could “Seize Ripple’s Assets”
In his post, DOQ suggested a hypothetical scenario in which the relevant authorities could seize Ripple’s assets. Specifically, the expert indicated that if the authorities prove that a “cabal” created Ripple or XRP as part of a master plan to harm U.S. citizens, Trump’s EO 13818 mandates the Treasury Department to seize everything, especially the company’s assets.
According to Trump EO 13818, if it was found that Ripple was at any point, involved with human rights abuse or corruption the US Department of the Treasury could seize all of their assets.
In other words, if it WAS proven that the cabal created Ripple and XRP in the early days…
— DOQ (@doqholliday) October 21, 2024
Ripple Is Not Involved in Corruption of Human Rights Abuse Scandal
It is worth clarifying that the statement only highlights a hypothetical scenario in which the United States government could seize Ripple’s assets. It does not suggest that Ripple is involved in corruption or a human rights abuse scandal.
Moreover, the SEC v. Ripple lawsuit does not allege fraud or human rights violations. The major focus of the lawsuit is Ripple’s violation of federal securities laws through its past sales of XRP to U.S. investors.
Notably, the lawsuit recently ended in a district court in New York, with Ripple securing a partial victory against the SEC. However, Ripple was fined $125.03 million for illegally selling XRP to institutional clients.
Meanwhile, the case is back and entering an appeal phase. While the SEC believes the judge erred in ruling on programmatic sales and other distributions of XRP, a reversal of these verdicts would not result in the seizure of Ripple’s assets.
According to Attorney Jeremy Hogan, the SEC is only appealing the ruling to “get more money” from Ripple. Besides that, the SEC is not seeking to seize Ripple’s assets, as there is no evidence of fraud.