XRP Lawsuit: Can Judge Deny Both Ripple, SEC Summary Judgment Motion?
XRP lawsuit News: As the US SEC Vs Ripple lawsuit is waiting for the summary judgment, the crypto community anticipating several outcomes from the court. Amicus curiae in the XRP Lawsuit laid out hints that the Judge could deny both motions for Summary Judgement filed by the parties.
What can be the outcomes of XRP lawsuit?
John Deaton, XRP holders’ lawyer brought up the pre-1933 blue sky argument people have been talking about after the latest submissions. He cleared that this particular argument is for the 2nd Circuit and Supreme Court. He believes that Judge Analisa Torres will go with the argument.
Blue Sky Laws in the United States law that regulates the offering and sale of securities in order to safeguard investors from frauds. However, this law varies from state to state and requires sellers of new issues to register with the authorities.
XRP lawyer highlighted that the judge could possibly check into the XRP sales done by Ripple. This is could happen as the commission didn’t go through to each transaction and ran them under the Howey test.
However, the SEC in the XRP lawsuit argues that Ripple created a secondary market for XRP. As per the commission claims past and as well as present XRP sales are securities. While it argues that if any other nation declares XRP a currency then it will because of Ripple’s efforts.
Is Ripple case going to jury?
Deaton stated that the experts have failed to consider that the Judge could go on to deny Both Summary judgment motions. This decision will lead the XRP lawsuit to a jury. It is near to impossible to predict any outcome of the case until the Rule 56 facts are read out.
The SEC in a response to Amicus curiae’s writ of Mandamus admitted that the court will now make a decision over whether the commission’s theory is valid or not.
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- Ethereum’s Vitalik Buterin Responds to Allegations of Excessive Control By ETH Inner Circle
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
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.
