Australian Lawyer Supports Judge Torres’ Ruling in Ripple-SEC Lawsuit
Australian lawyer and digital asset enthusiast, Bill Morgan, has come forward to support Judge Torres’ contested decision in the Ripple-SEC lawsuit. He argues that the judge’s choice to analyze Ripple’s XRP sales on an individual basis was valid and based on the categories proposed by the SEC themselves.
Key Points:
- SEC proposed three distinct categories of XRP sales: institutional sales, private sales, and programmatic sales.
- Judge Torres analyzed each category individually, following the precedent set by the Marine Bank case.
- Significant differences were found within the categories, such as the presence of contracts and the knowledge of buyers.
- The judge considered the reasonable investor’s viewpoint for each category, taking into account the differences in expectations.
- John Deaton, Founder of CryptolawUS, supports the judge’s decision and believes it is unlikely to be reversed on appeal.
Hot Take:
This support from an Australian lawyer adds weight to Judge Torres’ ruling in the Ripple-SEC lawsuit. By analyzing each category individually, she considered the distinct characteristics of Ripple’s XRP sales and offers, as proposed by the SEC. This approach not only highlights the differences within the categories but also takes into account the expectations of the reasonable investor. With the backing of legal experts like Bill Morgan and John Deaton, it appears that Judge Torres’ decision may have a strong foundation.
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