Ripple v. SEC: Exploring the Intricacies of the Case
The ongoing legal battle between Ripple and the SEC has sparked discussions and debates among crypto enthusiasts. Ripple’s CTO, David Schwartz, joined the conversation, criticizing the SEC’s change in language and calling it “completely incoherent.”
Key Points:
- The SEC shifted from “selling digital asset securities” to “crypto assets offered and sold as securities” in a settlement with Bittrex.
- Schwartz compared XRP to orange groves in the Howey case, stating that selling something as a security doesn’t necessarily make it one.
- Morgan questioned Judge Torres’s decision, particularly regarding the classification of sales to on-demand liquidity customers as investment contracts.
- A group of six securities law scholars filed an amicus brief supporting Coinbase, which casts doubt on the correctness of the Torres decision.
- XRP’s current price is $0.626, with a slight decline on the day, a weekly gain, and a monthly loss.
Hot Take: The Ripple v. SEC case continues to spark intense debates and analysis. The arguments made by Ripple’s CTO and lawyer Bill Morgan shed light on the complexities of the SEC’s language and the classification of XRP as a security. The involvement of securities law scholars further adds uncertainty to the outcome of the case.
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