Main navigation

SEC Onboards New Attorneys in Ripple Case

Advertisement
Thu, 10/08/2023 - 16:00
SEC Onboards New Attorneys in Ripple Case
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The United States Securities and Exchange Commission (SEC) has onboarded two new attorneys as it moves to challenge Ripple's summary judgment win.

Advertisement

James K. Filan, a former federal prosecutor and Ripple enthusiast, called attention to the new development on Twitter.

The two attorneys that have filed Motions to Appear Pro Hac Vice on behalf of the SEC are Marc Jones and Peter Moores.

Advertisement

The request for admission of the two attorneys to appear for all purposes as counsel for the United States Securities and Exchange Commission (SEC) has been granted by the court.

In a new twist in the Ripple lawsuit, the SEC stated its intent to challenge the July 13 ruling that XRP is not a security when sold to the general public.

In a Wednesday court filing, the SEC said it was seeking leave to file an "interlocutory appeal" of the judge's ruling on Ripple's programmatic sales of XRP and sales to buyers over trading platforms and other distributions.

U.S. District Judge Analisa Torres ruled last month that Ripple sales of XRP to sophisticated investors met the test for an investment contract under federal securities law, but this did not apply to programmatic investors, meaning the broader public buying crypto on exchanges.

XRP lawyer exposes SEC's weakest argument

XRP holders attorney John Deaton highlights the SEC's weakest argument in its bid to challenge Ripple's win in summary judgment.

"The SEC argues that Torres’ ruling could impact its other lawsuits, which are of similar nature. This is the weakest of the SEC’s arguments," Deaton stated.

The SEC stated in its filing that a timely review of the Ripple ruling was warranted because of the "number of actions currently pending that may be affected."

Related

In an exciting development, Gemini crypto exchange has announced the listing of XRP, with deposits for the cryptocurrency now available while trading is set to commence at a later time.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD