Ripple’s Strategic Move in XRP Lawsuit
In the ongoing XRP Lawsuit, Ripple Labs CEO Brad Garlinghouse has brought in a new defense attorney, Rahul Mukhi. This move is seen as a strategic decision by Ripple to strengthen their case. While XRP’s status as securities will remain unchanged for the next two years, there is speculation that the executives may face minimal punishment for selling “unregistered Securities.”
The involvement of multiple defendants in the XRP case necessitates the need for an experienced legal representative to navigate through the complexities and engage with regulators effectively.
New Lawyer: Trump Card to Stop SEC Interlocutory Appeal?
Ripple’s decision to hire a new attorney at this stage raises questions about their strategy. Are they confident of winning or considering a settlement with the SEC? Rahul Mukhi, the new attorney, is known for his expertise in complex legal matters and investigations, which could significantly bolster Garlinghouse’s defense.
It is worth noting that two lawyers representing the SEC recently exited the lawsuit, creating a gap in their representation. However, Ripple has clarified that this will not affect their stance on XRP’s status, showcasing their confidence in the ongoing legal proceedings.
So… What Next?
The Ripple vs. SEC case is far from over as it proceeds to trial without definitively resolving all issues. A recent ruling determined that while Ripple’s token is classified as a security when sold to institutional investors, it is not considered securities when traded on secondary markets.
If Judge Analisa Torres drops the SEC’s case against Garlinghouse and Larsen based on this ruling, it could be a significant turning point for XRP and have a lasting impact on crypto history.
Hot Take: The Implications of Ripple’s New Defense Attorney
Ripple’s decision to bring in a new defense attorney, Rahul Mukhi, showcases their strategic approach to the XRP Lawsuit. By enlisting an experienced legal representative known for his expertise in complex matters, Ripple aims to strengthen Brad Garlinghouse’s defense. This move raises questions about their confidence in winning or potentially considering a settlement with the SEC. Additionally, the departure of two SEC lawyers from the case indicates potential weaknesses in the SEC’s stance. The ongoing legal proceedings and Judge Analisa Torres’ recent ruling will shape the future of XRP and its classification as securities.
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