Ripple Lawsuit: Pro-XRP Lawyer Shares Legal Insights On XRP Programmatic Sales

Rupam Roy
May 11, 2024
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Highlights

  • Pro-XRP lawyer discusses Ripple's programmatic sales amid ongoing SEC scrutiny.
  • The insights come amid the soaring tensions in the Coinbase Vs. SEC lawsuit.
  • SEC dismisses Coinbase's appeal, upholding traditional securities laws for crypto.

In the ever-evolving landscape of crypto regulation, legal battles continue to shape the industry’s future, especially with the recent battle of Ripple and Coinbase against the SEC. Notably, amid ongoing scrutiny from regulatory bodies like the U.S. Securities and Exchange Commission (SEC), Ripple’s legal saga takes center stage once again. For context, recent comments from pro-XRP lawyer Bill Morgan shed light on the intricacies of Ripple’s programmatic sales and their legal implications, offering a glimpse into the complexities of the case.

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XRP Lawyer Shares Legal Insights

Amid mounting tensions surrounding Ripple’s legal battle with the SEC, pro-XRP lawyer Bill Morgan weighs in on the potential ramifications of recent developments. Notably, Morgan’s commentary comes in response to FOX journalist Eleanor Terret’s update. 

In a recent X post, Eleanor Terret highlights the SEC’s stance on Coinbase’s request for an interlocutory appeal regarding conventional securities rules’ application to cryptocurrencies. However, the XRP lawyer’s remarks suggest a nuanced interpretation of Ripple’s programmatic sales in light of ongoing legal proceedings.

Meanwhile, Morgan emphasizes the significance of Ripple’s case in establishing a precedent for programmatic sales’ regulatory status, particularly in the absence of court precedents aligning with the SEC’s position. In addition, he even said that if Ripple prevails without an appeal, it could set a precedent wherein programmatic sales may not require registration. 

Precisely, Bill Morgan’s comment and insights have gained traction, as the situation he said, could potentially offer Ripple respite amidst regulatory scrutiny. However, the broader implications of such a ruling remain subject to legal interpretation and subsequent developments in the case.

Also Read: Billionaire Mark Cuban Calls US SEC Incapable of Handling Crypto Regulations

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Rising Tensions In The SEC Vs. Coinbase Case

The SEC’s resistance to Coinbase’s appeal underscores the regulatory uncertainty surrounding cryptocurrency classification and the application of securities laws. Notably, the agency’s dismissal of Coinbase’s argument reflects its steadfast commitment to established legal frameworks, notably the Howey Test, in assessing digital assets’ status as securities. 

In addition, the SEC’s skepticism towards Coinbase’s attempt to redefine existing legal standards highlights the challenges inherent in adapting traditional securities laws to the evolving crypto landscape.

Meanwhile, the SEC has faced heavy backlash from the crypto market due to regulatory overreach in the digital asset space. Now, with the discussions intensifying with the ongoing Ripple Vs SEC and Coinbase Vs SEC battle, the investors are seeking more clarity on the legal ground. In addition, the decisions could also shape a new era for crypto regulation.

However, amid this, Ripple’s native crypto, XRP price fell 2.30% to $0.5052, while its trading volume rose 5.30% to $1.03 billion. Notably, the dip in the XRP price could be also attributed to the recent selloff in the broader crypto market.

Also Read: How the Crypto Market Is Performing Today? 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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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.

About Author
About Author
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.