This appeal by the SEC is likely to hamper crypto asset manager Bitwise's Wednesday filing with the SEC for an XRP exchange-traded fund (ETF). The price of the XRP token fell by as much as 11% Thursday following the Securities and Exchange Commission's (SEC) decision to ap...
speculatedthat dropping the lawsuit against Garlinghouse and Larsen could suggest the SEC plans to appeal the court decision on XRP as a security — something she said would have had to wait
the crypto industry was handed a partial victory when U.S. Southern District Judge Torres ruled that the token XRP was not sold as an illegal security when it was traded between retail investors on exchanges. She also ruled that it was a security when it was sold by...
The judge has yet to make a decision on the matter, but it is clear that the release of these documents could have a major impact on the case. Meanwhile, John Deaton, a class action attorney who represents over 67,000 XRP holders who have filed their own suit against the SEC, shared...
the price ofXRP, Ripple’s native token, sharply dropped.32But it doubled in price in November 2023, after Ripple won a partial victory in its case against the SEC after a court decided that XRP was a security when sold to institutional investors but not to the public on an exchange.323...
Delivering a split decision on competing summary judgment motions, the court ruled in favor of the defendants for three of the four transaction types at issue, finding that such transactions did not involve investment contract securities and ruling that the XRP token at issue was not, in...
As of now, it is unclear whether the SEC will contest Ripple’s fine imposition or the court’s ruling that secondary market sales of XRP tokens are non-securities. With the SEC’s decision toproceed with its appeal, Ripple is evaluating a countermove in the ongoing SEC litigation over XRP...
Bitnomial also arguedthat a rulingin the SEC’slawsuit againstRipple Labs rejected the regulator’s view that XRP traded on secondary markets is a security. On Oct. 2, the SEC said it wouldappeal that decision, looking to overturn Judge Analisa Torres’ ruling. ...
The SEC provided arguments to the court,contestingthe Motion to Seal, arguing that submissions influencing a court ruling on the penalty for breaching US securities laws should be a matter of public record. However, a recent court ruling may influence the decision on the Motion to Seal. ...
“The allegation will be that Ripple’s sales of XRP constituted an ‘investment contract’ under the law,” Alderoty said by phone. The U.S. Supreme Court defined securities—investment contracts—in 1946 with theHoweytest, referring to the case on which it was ruling. ...