• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Ripple

Settlement Is Most Likely Outcome in Ripple vs. SEC Case – Attorney – Cryptonews

Admin by Admin
April 9, 2021
in Ripple
0
Settlement Is Most Likely Outcome in Ripple vs. SEC Case – Attorney – Cryptonews
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Settlement Is Most Likely Outcome in Ripple vs. SEC Case - Attorney 101
Source: Adobe/zimmytws

While XRP has muscled its way back into the top-four cryptoassets by market capitalization as Ripple scored an important victory in the court, the legal battle with the US Securities and Exchange Commission (SEC) is far from over and most likely will end with a settlement, per an attorney.

Related articles

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

July 1, 2022
Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

June 30, 2022

According to Andrew Hinkes, attorney at Carlton Fields and adjunct professor at NYU School of Law and NYU Stern School of Business, Ripple’s ability to win discovery, leaving the SEC to serve up “disputed documents” on bitcoin and ether to the blockchain startup, was “significant.”

“Ripple will receive previously undisclosed materials providing insight into the SEC’s view of bitcoin and ethereum, both of which to date have not been considered to be securities. Ripple has argued that it is entitled to see those materials to understand why the SEC views Ripple’s conduct to violate the securities laws but why they do not consider the conduct associated with bitcoin and ethereum to have violated those same laws. The information should be informative, especially as to Ethereum, which, like Ripple, sold tokens to distribute its assets at inception,” said Hinkes.

While Ripple chief Brad Garlinghouse, who is named as a defendant in the lawsuit alongside Executive Chairman Chris Larsen and Ripple Labs, was seemingly empowered by the legal nod, he is not out of the woods yet.

Today was a good day.

— Brad Garlinghouse (@bgarlinghouse)

“Ripple has vast financial resources and has hired an exceptional legal team, including several former high-ranking SEC officials. Unlike many large projects that have been sued by the SEC, they appear to have the resources to take the case to a judgment and appeal,” stressed Hinkes.

One of those officials is Mary Jo White, former chair of the SEC. Also, at the end of 2019, Ripple attracted USD 200m to its coffers in venture capital, with a valuation of USD 10bn attached.

However, per Hinkes, it’s far too early to handicap their case.

“To date the SEC’s interpretation and application of the securities laws to offerings and sales of digital assets has been supported by courts in virtually every instance,” he said.

The most likely outcome, according to the attorney, will be a negotiated settlement.

“It’s the most common outcome in high-stakes litigation,” he said.

As reported in February, counsels for the SEC, Ripple, and two of its executives said back then they “do not believe there is a prospect for settlement at this time.” “Defendants agree with the statement, but note that previous settlement discussions took place under a previous administration and were principally with relevant division directors who have since left the SEC,” Ripple and its executives added back then.

Messaging app Kik also fought a similar battle with the SEC, one that cost the company USD 5m, not to mention legal fees.

In either case, while there are still many twists and turns that will likely play out during the litigation, one thing that is clear that there is a lot at stake, and not just for Ripple.

“If the case is litigated to a judgment and the judgment is appealed, the appeal will go to the judges of the US Court of Appeals for the 2nd Circuit. The rulings on legal issues from the 2nd Circuit would be the first binding law specifically focused on the application of the securities laws to token issuances. The entire industry is watching this case,” said Hinkes.

At 14:42 UTC, XRP trades at USD 0.99 and is up by 3% in a day and 74% in a week. It almost doubled in a month and rallied by 397% in a year.

___
Learn more:
– XRP Deemed a Security Wouldn’t Harm Ripple, but Might Hurt US – CEO
– Garlinghouse Backtracks on BTC as Ripple Gains Ground on SEC & XRP Soars
– Brad Garlinghouse: SEC Lawsuit Against Ripple Is ‘Against Crypto At Large’
– Ripple Goes For M&A in Asia Amid Legal Battle In US
– Unconfirmed Report From Court Hearing May Have Sparked XRP Rally
– SEC Lists 3 Reasons for Seeking Ripple Execs’ Financial Info on XRP Deals
– SEC Hits out at Ripple’s ‘Lack of Due Process’ in Letter to Judge
– Fact-checking Ripple’s Claim that ‘Many G20 Gov’ts’ Call XRP a ‘Currency’

Share76Tweet47

Related Posts

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

by Admin
July 1, 2022
0

Arman Shirinyan XRP "celebrates" massive spike in network activity; over 1 billion XRP are being transferred or unlocked Contents Series...

Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

Ripple (XRP) CEO Announces Expansion as Gorilix Presale Shoots Up 120% – Cryptonews

by Admin
June 30, 2022
0

Disclaimer: The text below is a press release that was not written by Cryptonews.com.In the cryptocurrency world, there are always...

Ripple Expands into New Zealand via AirWallex – U.Today

Ripple Expands into New Zealand via AirWallex – U.Today

by Admin
June 30, 2022
0

Tomiwabold Olajide Airwallex has been using RippleNet since joining Ripple's enterprise blockchain network back in 2017 Contents Ripple confirms partnership...

Ripple Will Leave The United States If The SEC Wins – The Coin Republic

Ripple Will Leave The United States If The SEC Wins – The Coin Republic

by Admin
June 30, 2022
0

The lawsuit filed by the SEC continues to be delayed Ripple Labs is being sued for illegally using XRP as unregistered...

SEC v. Ripple: Tension mounts ahead of key decision in XRP lawsuit – FinanceFeeds

SEC v. Ripple: Tension mounts ahead of key decision in XRP lawsuit – FinanceFeeds

by Admin
June 30, 2022
0

Finance Feeds will be ready to cover the “biggest decision in the XRP lawsuit 2.0” and the reactions to it. The...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That – U.Today

July 1, 2022
Polygon, Fantom Users Targeted in Ankr Gateway Hack – Crypto Briefing

Polygon, Fantom Users Targeted in Ankr Gateway Hack – Crypto Briefing

July 1, 2022
Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum – Cointelegraph

Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum – Cointelegraph

July 1, 2022
Report Shows Blockchain Will Have a Significant Impact on Businesses – ETF Trends

Report Shows Blockchain Will Have a Significant Impact on Businesses – ETF Trends

July 1, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack