NewsletterXRP News: SEC Win Possible Against Ripple? XRP Lawyer Drops Hint
XRP News: Ripple Defendants and US SEC both parties filed their opposition to the third party’s motion to redact specific details in the Ripple lawsuit. The crypto community now awaits the crucial Summary Judgment which is expected to shape regulations over the digital asset market.
Is SEC win in sight in XRP case?
John Deaton, Amicus Curiae in the XRP lawsuit discussed arguments that could have led to a US SEC win. He highlighted how should it be decided that the court should grant the Commission’s Summary Judgement motion. However, if the judge decides to rule that XRP was offered as a security in 2013-2015 then it will simply imply that SEC wins the dispute.
As of the filings in the court, the SEC hasn’t presented any such argument to the judge which confine investment contracts to sales and that too in 2013-2015. The commission didn’t offer a theory of common enterprise advanced by the commission which can allow differentiating those sales from others. Read More XRP News…
XRP holders’ lawyer is finding it difficult to see how the judge can rule an SEC win here. If the court does it then it will have to be by calling Ripple offering XRP in those years as an investment contract. He added that the commission does not explicitly allege it. However, if the judge wants to drop the split decision, they would need to find a violation in the early years.
Is Ripple a common enterprise?
Deaton mentioned that Ripple claims that the commission has alleged that the blockchain firm was the common enterprise. Meanwhile, an expert that SEC later abandoned stated that it was the entire XRP ecosystem. However, in the briefs, the SEC stated that XRP represents the common enterprise.
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