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#News #JudgeTorres #ripple #sec #xrp Ripple SEC Case: Lawyer Bets On Ruling Date In Appeal Phase: As the Ripple SEC Case climaxes, pro-XRP counsel Fred Rispoli anticipates a ruling on July 31 in the remedies phase. The Ripple SEC litigation has captivated the crypto community, particularly as it enters the critical remedies phase. The intense anticipation encircling this case was recently underscored by pro-XRP lawyer Fred Rispoli, who speculated about the […] The post Ripple SEC Case: Lawyer Bets On Ruling Date In Appeal Phase appeared first on Coinscreed.

🚨 XRP Update: Ripple vs. SEC Appeal - What's Next? 🚨 The Ripple vs. SEC battle is heating up! 🔥 Ripple's Chief Legal Officer, Stuart Alderoty, recently shared insights on the SEC’s latest appeal. The SEC is attempting to overturn Judge Torres’ ruling, but Ripple’s defenses are gaining strength. 💪 ⚖️ Ripple’s Strong Defense: Fair Notice Ripple argues that the SEC failed to provide a clear warning that XRP violated securities laws. The Fair Notice defense, which challenges if the average person could understand the law’s requirements, is back on the table. Judge Torres even hinted this defense remains valid—potentially complicating the SEC's case. 📉 What’s at Stake for the SEC? The 2nd Circuit Court of Appeals has several choices: uphold the ruling, expand it, or send the case back. But the SEC might not get the outcome they’re hoping for. 🏛️ Alderoty humorously likens the SEC’s pursuit of Ripple to the classic "Moby Dick" saga, with Chair Gary Gensler as Captain Ahab. 🐋 As Ripple's defenses strengthen, the SEC’s case might feel like a legal comedy—think My Cousin Vinny in a courtroom showdown. 🎭 https://lnkd.in/gFE2T87s The upcoming decision could have far-reaching implications for crypto regulation in the U.S. 🚀 If Ripple prevails, it may set a new precedent for how digital assets are treated. Stay tuned! #XRP #CryptoNews #Ripple #SEC #Blockchain #Regulation #CryptoIndustry #LegalUpdate

As Ripple Labs navigates its legal dispute with the United States Securities and Exchange Commission (SEC), the firm’s Chief Legal Officer (CLO) Stuart Alderoty has weighed in on the general misunderstanding on the lawsuit’s future course, providing transparency on the subject. Ripple CLO Addresses Confusion Surrounding The Case The Ripple CLO Stuart Alderoty provided clarity on the case after identifying certain inaccuracies in an X post made by cryptocurrency influencer Crypto Eri concerning the next steps of the lawsuit, particularly the final pretrial conference expected to take place by April 16. The influencer had highlighted a portion of the Southern District of New York Civil and Criminal Proceeding Calender that revealed that the final pretrial is scheduled for the aforementioned date, calling on multiple attornies like Bill Morgan to share insights on the information. Addressing the update, the Ripple CLO noted that the information is false, noting that by April 22, Ripple will submit its response to the regulatory watchdog’s request for penalties, and the SEC will have until May 6 to respond to the move. He further refuted the claims because there will be no final pretrial conference as the SEC has withdrawn the accusations against the firm’s CEO, Brad Garlinghouse, and co-founder, Chris Larsen. The post read: Seeing some confusion on the next steps with the SEC vs. Ripple case. To clarify – Ripple will file its response to the SEC’s request for penalties by April 22 and the SEC has until May 6 to reply. There is no final pretrial conference because the SEC dismissed the charges against Brad Garlinghouse and Chris Larson. US CryptoLaw, established by Deaton Law Firm, also confirmed there won’t be a trial since those cases were dismissed. Furthermore, the law firm claims the calendar is outdated since it was established prior to the SEC dismissing its case against Garlinghouse and Larson. CryptoLaw also drew attention to attorney James Filam’s post highlighting key dates regarding the remedies briefing, urging Eri to always rely on Filan for accurate information. Lawsuit Based On Unregistered Securities Offering The agency continues to pursue a final judgment against Ripple for alleged violations of Section 5 of the Securities Act of 1933, along with penalties totaling around $2 billion. It is worth noting that the SEC’s lawsuit against Ripple and the two executives originated in 2020.  Specifically, the claims made by the SEC center on the payment firm’s alleged unregistered security offering of XRP in institutional sales. Additionally, Brad Garlinghouse and Chris Larson were accused by the commission of encouraging and assisting these sales.  In time, the case took a dramatic twist when the SEC dropped the allegations against the executives in October last year. Consequently, the lawsuit’s course has since changed by the dismissal, and the crypto community began debating what that meant for

As Ripple Labs navigates its legal dispute with the United States Securities and Exchange Commission (SEC), the firm’s Chief Legal Officer (CLO) Stuart Alderoty has weighed in on the general misunderstanding on the lawsuit’s future course, providing transparency on the subject. Ripple CLO Addresses Confusion Surrounding The Case The Ripple CLO Stuart Alderoty provided clarity on the case after identifying certain inaccuracies in an X post made by cryptocurrency influencer Crypto Eri concerning the next steps of the lawsuit, particularly the final pretrial conference expected to take place by April 16. The influencer had highlighted a portion of the Southern District of New York Civil and Criminal Proceeding Calender that revealed that the final pretrial is scheduled for the aforementioned date, calling on multiple attornies like Bill Morgan to share insights on the information. Addressing the update, the Ripple CLO noted that the information is false, noting that by April 22, Ripple will submit its response to the regulatory watchdog’s request for penalties, and the SEC will have until May 6 to respond to the move. He further refuted the claims because there will be no final pretrial conference as the SEC has withdrawn the accusations against the firm’s CEO, Brad Garlinghouse, and co-founder, Chris Larsen. The post read: Seeing some confusion on the next steps with the SEC vs. Ripple case. To clarify – Ripple will file its response to the SEC’s request for penalties by April 22 and the SEC has until May 6 to reply. There is no final pretrial conference because the SEC dismissed the charges against Brad Garlinghouse and Chris Larson. US CryptoLaw, established by Deaton Law Firm, also confirmed there won’t be a trial since those cases were dismissed. Furthermore, the law firm claims the calendar is outdated since it was established prior to the SEC dismissing its case against Garlinghouse and Larson. CryptoLaw also drew attention to attorney James Filam’s post highlighting key dates regarding the remedies briefing, urging Eri to always rely on Filan for accurate information. Lawsuit Based On Unregistered Securities Offering The agency continues to pursue a final judgment against Ripple for alleged violations of Section 5 of the Securities Act of 1933, along with penalties totaling around $2 billion. It is worth noting that the SEC’s lawsuit against Ripple and the two executives originated in 2020.  Specifically, the claims made by the SEC center on the payment firm’s alleged unregistered security offering of XRP in institutional sales. Additionally, Brad Garlinghouse and Chris Larson were accused by the commission of encouraging and assisting these sales.  In time, the case took a dramatic twist when the SEC dropped the allegations against the executives in October last year. Consequently, the lawsuit’s course has since changed by the dismissal, and the crypto community began debating what that meant for

📌Coinbase Triumph in Court: What It Means for the Crypto Industry What Happened? 🔸The #US Court of Appeals for the Second Circuit ruled favourably for #Coinbase by affirming that selling #cryptocurrencies through its platform does not breach US #securities laws. But, is this the definitive answer? Background 🔸Plaintiffs charged Coinbase with marketing unregistered securities on the secondary market. They argued that the platform’s transactions should be recognised as securities deals, necessitating formal registration under the Securities Act of 1933 and the Securities Exchange Act of 1934. 🔸Further, they asserted that each token purchase or sale represents a distinct contract. Hence, any contract made in violation of Section 29(b) of the Securities Exchange Act of 1934 should be #void. 🔸Coinbase countered by claiming that its crypto transactions do not meet the criteria for securities transactions and should not be subjected to such regulations. Court Decision 🔸The court's ruling relied on the Securities Act, specifying that a securities seller is liable if sales occur without appropriate registration. A "statutory seller" must meet one of these criteria: • Passed title, or other interest in the security, to the buyer for value • Successfully solicited the purchase of a security, motivated at least in part by a desire to serve its own financial interests or those of the securities’ owner (as per the Supreme Court’s Pinter v. Dahl, 486 U.S. 622 (1988)). 🔸The court determined that according to Coinbase’s user agreement, the exchange never owned the tokens bought by the plaintiffs, thus not qualifying as a statutory seller. Moreover, the plaintiffs failed to produce specific contracts that should be void. Our Opinion 🔸The case against Coinbase regarding unregistered securities sales was dismissed on formal grounds due to the absence of proof linking Coinbase to specific contractual obligations concerning the transactions. Moreover, the court has remanded the case for further examination. Declaring this a decisive victory for the #crypto industry is premature. We will keep an eye on how this situation evolves. Coinbase decision: https://lnkd.in/ewEWU8QR Pinter v. Dahl, 486 U.S. 622 (1988): https://lnkd.in/eG43hiPK

The SEC has filed an appeal against Ripple’s decision- Watching closely Key Points The SEC has filed an appeal against Ripple’s decision, challenging the classification of secondary sales of XRP as non-securities transactions. Ripple executives have criticized the SEC’s legal tactics, calling the lawsuit irrational. Judge Analisa Torres ruled that secondary sales of XRP do not qualify as securities transactions, but initial sales to institutional investors do. Ripple’s Chief Legal Officer, Stuart Alderoty, and CEO Brad Garlinghouse have publicly criticized the SEC’s decision to appeal. The appeal coincides with Bitwise filing for an XRP exchange-traded fund (ETF). XRP’s price has dropped significantly following the SEC’s appeal. SEC’s Appeal Against Ripple On […] https://lnkd.in/gHn7rmHt

Here’s What May Happen to the Ripple v. SEC Case Under Trump’s Administration (US Lawyer) - https://lnkd.in/dz8ti_r6 #cryptocurrency #bitcoin #news #affiliateprogram #affiliatemarketing #DigitalMarketing #Technology #money #blockchain #investing TL;DR Lawyers suggest that the lawsuit might be resolved with a potential $125 million settlement if the SEC leadership changes. One of them believes that a complete dismissal of the case is “unrealistic.” A Possible Resolution Next Year? The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) dates back to 2020, when the watchdog accused the company and some of its executives of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case went through several ups and downs in the following years, with Ripple securing some vital (yet partial) court wins. In the summer of 2023, for example, Judge Torres ruled that the firm’s XRP sales to retail investors on crypto exchanges did not violate securities laws. Earlier this year, though, she determined that Ripple’s direct sales of its native token to institutional investors violated federal securities laws, thus fining the enterprise $125 million. The firm seemed ready to pay the penalty, thus settling the lawsuit. However, the SEC prolonged it by appealing the aforementioned 2023 verdict. The regulator’s action means that the official resolution of the legal battle may occur in a few years.  Nonetheless, Donald Trump’s victory in the US presidential elections could bring the end closer. At least, that is what the American attorney Jeremy Hogan assumed. Trump promised to fire the SEC’s Chairman Gary Gensler on day one after taking the helm. While his inauguration is set for January 20, Hogan believes Gensler will step down before that day.  He predicted that the new agency leader might dispose of all non-fraud crypto lawsuits the regulator has filed over the years. The recommendation is expected to be approved by the Commissioners since the division will be comprised of Republicans. According to Hogan, such an outcome would result in the settlement of the Ripple v. SEC case for the previously ruled amount of $125 million.  “It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it,” the lawyer concluded. An Additional Opinion Fred Rispoli – another US attorney who has been following the updates surrounding the Ripple v. SEC legal tussle – also chipped in. He claimed that the election of Trump should be considered “good news” as it will lead to “extreme changes” at the agency. He thinks those amendments will come into effect in March or April next

🔍 Is Ripple vs. SEC bound for the Supreme Court? Former SEC litigator Linda Steward suggests so, sparking speculation. As tensions escalate over defining cryptocurrencies as securities, recent legal shifts favor Ripple. Brace for updates as Ripple and the SEC gear up for a lengthy battle with industry-wide implications. #Ripple #SEC #SupremeCourt #CryptocurrencyLegalBattle #CryptoNews

Ripple vs. SEC: Legal Experts Anticipate Potential Appeal Over XRP Sales #Ripple wins a major point in its case against the #SEC as the outcome of the decision on #XRP’s secondary sales excites experts and sparks an XRP price spike. https://lnkd.in/gHy8e8kG

Ripple Vs. SEC Lawsuit: Court Gives Regulator Tight Deadline To Strike Back https://ift.tt/uIMSQN4 In the latest updates on the court case between Ripple and the United States Securities and Exchange Commission (SEC), the Magistrate Judge Sarah Netburn, has ordered strict deadlines for the regulatory agency to respond to the crypto firm’s motion.  Judge Issues New Scheduling Order On Thursday, April 25, the magistrate Judge Netburn issued a new scheduling order regarding the years-long legal battle between Ripple and the US SEC.  Former federal prosecutor and defense lawyer, James K. Filan shared details of the scheduling order in an X (formerly Twitter) post. The order states that the SEC has been granted a deadline of Monday, April 29, 2024, to file a rebuttal to Ripple’s Motion to Strike. Following this, Ripple is mandated to file a response within three business days.  This order is a critical step in Ripple’s case with the SEC, as it will potentially address the SEC’s recent submission of its motion to strengthen the remedies and entry of final judgment. Previously, on April 22, the company filed a motion to strike the SEC’s newly submitted expert materials, arguing that the regulator had introduced the filings beyond the allocated time frame, thereby violating discovery rules. The digital asset payment company had rejected the $2 billion penalty levied by the regulator earlier in April, contending that the SEC’s demands were excessive and petitioning the court to impose a civil penalty not exceeding $10 million. Ripple has remained defiant in its defense that XRP was not intended as an investment vehicle, as such, should not be classified as a security.  More Updates On The Ripple And SEC Case The Ripple and SEC case continues to be a major legal battle that could have significant implications within the broader cryptocurrency space and the financial industry. The court case keeps evolving, with new updates and changes occurring regularly.  Related Reading: Shiba Inu Burn Rate Sees Massive 2,076% Spike In 24 Hours Recently, Magistrate Judge Sarah was nominated as the District Judge in the Southern District of New York. As a result, she is preceding the Ripple and SEC court case, however has not issued a final ruling on Ripple’s penalty despite the SEC’s exorbitant demands.  Despite having a pro-crypto stance, Magistrate Judge Netburn is determined to give a fair ruling, considering the cases of both parties and deciding on the penalties or conclusion of the case. Overall, the broader crypto industry is still watching as the legal battle unfolds, with the majority of the XRP community supporting Ripple’s stance and criticizing the SEC’s enforcement actions towards the cryptocurrency space. XRP falls as lawsuit rages on | Source: XRPUSDT on Tradingview.com Featured image from The Cryptonomist, chart from Tradingview.com Source link via POTPOURRINEWS https://ift.tt/FRG7DI2 April 26, 2024 at 03:18PM