XRP Lawsuit: Securities expert, Attorney Tessler to offer technical consultancy to the court

Published by
XRP Lawsuit: Securities expert, Attorney Tessler to offer technical consultancy to the court

The latest development in the XRP lawsuit saw the court granting Attorney Lilya Tessler’s plea to practice Pro Hac Vice as counsel for amicus curiae, on behalf of the Chamber of Digital Commerce. It translates to Sidley Austin LLP’s Attorney Tessler offering the court her advice in her expertise of securities offering, which happens to be the crux of the problem in the ongoing XRP lawsuit.

Advertisement

Attorney Tessler job profile includes legal counsel to digital asset exchanges on SEC regulatory inquiries

Lilya Tessler, partner and head of Sidley’s FinTech and Blockchain group has a concentrated practice around representing digital asset trading platforms, blockchain technology companies, U.S. and non-U.S. broker-dealers, financial service firms, and cryptocurrency funds. Specifically, Tessler provides legal advice to technology companies on public and private securities offerings, including blockchain token distributions.

Furthermore, she advises financial institutions and digital asset exchanges on routine securities issues, private placement agent requirements, custody rule requirements, cross-border regulatory issues, money services business registration requirements, as well as FINRA and SEC regulatory inquiries.

Advertisement

Ripple could bounce back with Tessler addition

With Attorney Tessler’s job profile and background in protecting the crypto community from unjust regulators, it is fair to speculate the XRP lawsuit could gravitate back, toward Ripple’s side. However, under Pro Hac Vice’s practice as counsel for amicus curiae, Tessler’s legal advice must come from a neutral ground. Yet, it is hard to decipher a definite outcome of Attorney Tessler’s addition to the historically controversial XRP lawsuit.

One after another extensions, letter motions, and now new counsel’s addition to the case has thickened the plot even further. Till yesterday, the ball was in SEC’s court with Ripple desperate for a settlement. However, this lawsuit’s plot twists happen overnight. Now that there is heavy speculation of Ripple getting back in the game, the defendants have filed another letter motion to compel against the SEC.

Defense files another letter motion to compel against the plaintiff

Ripple and individual defendant, Larsen has filed a Motion to Compel the SEC to answer interrogatories related to the SEC’s Howey Test application theory. The theory claims that it applies to virtually all of Defendants’ transactions in XRP, over the last 8 years. The SEC refused to provide any information, upon Ripple’s attempt at seeking to identify how the SEC contends Howey applies to all these transactions.

Advertisement

Share
Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
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.

Recent Posts

  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025
  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025