Sign Up on MEXCRipple In Lead As US SEC Holds Bad Win Record On Howey Test?
XRP News: The legal tussle between Ripple Labs and U.S. Securities and Exchange Commission (SEC) has kept the crypto industry on the hook. A much awaited Summary Judgment in the case is expected to update the categorization of the digital assets. However, Ripple Legal Officer hinted why they have an upper hand in the fight against the US SEC enforcement.
Also Read: Ripple Exec Bids For EU’s MiCA Amid US SEC Crackdown; Ripple Moving Out?
Ripple Set To Recieve A Win Against US SEC?
Stuart Alderoty, Chief Legal Officer of Ripple shared two lawsuits where the US SEC argued over the ‘Common Enterprise’ matter and wasn’t able to prove it on Howey Test.
He mentioned the SEC v. W.J. Howey Co. (1946) and stated that the SEC unsuccessfully argued that an investment in a ‘Common enterprise’ was unnecessary provided. Alderoty added that there was a “community of interest. He claimed that the SEC was wrong during the argument then and is stand wrong on the matter.
Ripple’s Chief Legal Officer highlighted the Revak v. SEC Realty Corp case which exposes the commission’s take on categorisation. Alderoty called it the SEC’s sleight of hand. He mentioned that without a “commons enterprise” it doesn’t matter whether ‘the fortunes of investors” are tied to the efforts of others. However, he further added that the Howey test is not “so easily satisfied”. Read More XRP News Here…
Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies
John Deaton, Amicus Curiae in the XRP lawsuit brought up that the SEC has been raising confusing theories around the common enterprise. At first, it claimed the the Ripple was the common enterprise. Then it pushed that Ripple forced them to concede XRP holders receive no interest in the firm by owning XRP tokens.
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
