In a recent Twitter exchange, prominent lawyer Bill Morgan expressed his disagreement with financial journalist Charles Gasparino’s comments on the legal status of XRP, the digital asset associated with Ripple.
Gasparino, a senior correspondent at Fox Business Network, shared his opinion on Twitter that Ripple did not win in the ongoing lawsuit with the SEC. He stated that XRP holders, particularly retail investors, “won” temporarily due to Judge Sarah Netburn’s decision to deny the SEC’s motion to strike Ripple’s fair notice defense. Gasparino called the ruling “idiotic” and “the laugh of the southern district,” indicating his belief that the ruling was poorly reasoned and may not hold up in future legal proceedings.
Morgan responded to Gasparino’s critical comment, strongly disagreeing with his assessment. He argued that no lawyer thinks it was not a good result for Ripple and explained that Judge Analisa Torres distinguished the XRP token from the underlying scheme and found it was not a security.
The Twitter exchange between Morgan and Gasparino highlights the difference in opinion regarding the legal status of XRP in the ongoing lawsuit. It underscores the ongoing debate and uncertainty surrounding the classification of digital assets as securities under U.S. law.
Hot Take: Discord on XRP Legal Status
The Twitter exchange between Bill Morgan and Charles Gasparino reveals conflicting views on XRP’s legal status amidst Ripple’s lawsuit with the SEC. This discord reflects the ongoing uncertainty surrounding digital asset classification under U.S. law.
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