A legal expert has warned that the district court ruling on XRP “rests on very shaky ground.” Expecting an appeal, he cautioned that Ripple’s victory “may be a short-lived victory,” claiming that the judge “got the law wrong.” Lawyer on Ruling of SEC v Ripple Case Lawyer Bryan Jacoutot shared his analysis of the ruling…
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The crypto community has gathered to celebrate the recent ruling on XRP’s securities status, but lawyers warn there’s more to it than meets the eye. Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn’t a…
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According to a recent ruling handed down by U.S. judge Analisa Torres, the crypto asset XRP is not “necessarily a security on its face.” In the ruling, both parties, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs’ motions for summary judgment were granted in part and denied in part. The order states that…
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The U.S. Securities and Exchange Commission (SEC) answered the latest filing of Coinbase by shooting down the arguments presented by the exchange to throw out the ongoing lawsuit. The filing reaffirms the institution’s jurisdiction on securities laws, explaining that Coinbase misinterprets the Howey test and criticizing the “major questions doctrine” usage in the case. SEC…
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The court case between SEC and Ripple Labs has been ongoing for nearly two and a half years, but a summary judgment ruling could be made any day. The ongoing case of the Securities and Exchange Commission v Ripple Labs could have a significant impact on the future of cryptocurrency regulations. Ripple first popped up…
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The 2018 MIT professor Gary Gensler didn’t think most ICOs triggered U.S. securities laws. The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The…
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The SEC filed a letter supporting its motion for summary judgment against Ripple Labs, citing a separate court case it had recently won. A recent court judgment further weakens a key defense made by technology firm Ripple Labs in its ongoing legal battle with the United States Securities and Exchange Commission (SEC), the regulator has…
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The brother of a former Coinbase employee allegedly profited from an insider trading scheme and now has 20 years to repay the funds. The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing…
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Lawyer Jeremy Hogan believes the United States Securites and Exchange Commission has failed to legally demonstrate that XRP is a security. Ripple’s XRP (XRP) is not a security because it does not fit the definition of an “investment contract,” the “only” legislative definition that it could “possibly” fit, according to Jeremy Hogan, a partner at…
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The Howey test’s impact on cryptocurrency, explained — legal implications, compliance requirements and more. What is the Howey test? The Howey test is a legal test used in the United States to determine whether a transaction qualifies as an investment contract and, thus, is considered a security under federal law. The test was established by…
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