Tag: Ripple

SEC could be waiting ‘years’ to file appeal in Ripple case: Brad Garlinghouse

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Ripple CEO Brad Garlinghouse believes the United States Securities and Exchange Commission (SEC) will face a prolonged process before having the chance to appeal Judge’s Torres favorable ruling in the case against Ripple.  On July 13, Judge Torres ruled partially in favor of Ripple Labs in a case brought forth by the Securities and Exchange Commission in 2020, ruling that the XRP (XRP) token is not a security regarding retail sales on digital asset exchanges. However, Torres ruled that XRP is a security when sold to institutional investors, as it…

Ripple CEO calls XRP ruling a win for crypto industry

Ripple CEO Brad Garlinghouse has shared his sentiments about a recent ruling that XRP is not a security. On July 13, Federal District judge Analisa Torres ruled that XRP, the native currency of the XRP Ledger (XRP), is not an unregistered security, except when used to raise funds from institutions. Garlinghouse shed light on the outcome of the XRP ruling, emphasizing the positive impact on Ripple and the crypto industry. In a July 14 interview on Bloomberg TV, Garlinghouse highlighted the SEC’s previous lawsuits against himself, Ripple co-founder Chris Larson, and the…

It’s time for the SEC to settle with Coinbase and Ripple

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In every major litigation, there comes a moment when you realize it’s time to settle. A ruling doesn’t go your way, a juror gives your legal team the side eye, the judge makes it clear it’s time for a settlement conference. After Judge Analisa Torres’ decision in SEC v. Ripple, the time has come for the United States Securities and Exchange Commission to settle the remainder of its case against Ripple Labs — as well as its case against Coinbase. The SEC’s attack on crypto has used a flexible legal…

Could the Ripple XRP Ruling Spell the End of the SEC’s Regulation by Enforcement?

The SEC and those who support its approach are likely concerned that this no-good, very bad day becomes no-good, very bad days. A string of court losses with similar legal reasoning as yesterday’s ruling in the Ripple case would weaken anti-crypto Democrats’ negotiating hand further. One takes this risk when placing all their betting chips on a novel legal strategy. When you lose, you lose significantly, and the other side of the debate understands that your negotiating leverage worsens by the day. Source

Ripple CTO warns against XRP scams amid SEC-induced hype

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A court ruling in favor of Ripple Labs — stating that XRP (XRP) is not a security — reignited the long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallied, defying bearish sentiments, Ripple chief technology officer David Schwartz issued a warning to investors. A two-year-long legal battle between the United States Securities and Exchange Commission (SEC) and Ripple partly concluded on July 13, with its XRP token shaking off the “securities” label in a decision by the United States District Court for the Southern District…

Bitcoin BTC Price Soars to One-Year High at $31.7K as Investors Savor Partial Ripple Victory

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The largest cryptocurrency by market capitalization was recently trading at $31,328, up 3.2% over the past 24 hours. Bitcoin shot as high as $31,700 near the close of traditional markets, a more than one-year high. With a few blips, BTC had been languishing between $30,000 and $31,000 for the past three weeks as some investors fretted over potential banking missteps to cure inflation and awaited a significant price catalyst. Original

Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray – Preston J Byrne

On the second category of sales, programmatic sales, the Court found in Ripple’s favor, arguing that the third, “expectation of profits” prong of Howey was not met. “Ripple’s Programmatic Sales were blind bid/ask transactions,” the Court wrote, “and Programmatic Buyers could not have known if their payments of money went to Ripple, or any other seller of XRP” and as such “a Programmatic Buyer stood in the same shoes as a secondary market purchaser who did not know to whom or what it was paying its money.” Source

Ripple wins case against SEC as judge rules XRP is not a security

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Ripple Labs scored a victory in the United States District Court in the Southern District of New York on July 13 as Judge Analisa Torres ruled in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020. According to documents filed on July 13, Judge Torres has granted summary judgement in favor of Ripple Labs allowing that the XRP (XRP) token is not a security. The SEC lawsuit sought to compel Ripple to stop offering its XRP token under the premise that…

Bad news for Ripple? LBRY judge passes ruling on if secondary crypto sales are securities

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Ripple may be holding its breath a bit longer after a United States District Judge refused to rule on if the secondary sale of LBRY Credits (LBC) constitutes a security. On July 11, New Hampshire District Court Judge Paul Barbadoro made the ruling in the case the United States Securities and Exchange Commission (SEC) brought against the decentralized content platform LBRY. The ruling may have offered legal precedent to fellow District Court Judge Analisa Torres, who is set to make a decision on the SEC’s case against Ripple in the…