Ripple Vs US SEC: The legal tussle between Ripple Labs and U.S. Securities and Exchange Commission (SEC) has kept the crypto industry on the hook. A much awaited Summary Judgment in the case is expected to update the categorization of the digital assets. However, Ripple Legal Officer hinted why they have an upper hand in the fight against the US SEC enforcement.
Ripple Set To Recieve A Win Against US SEC?
Stuart Alderoty, Chief Legal Officer of Ripple shared two lawsuits where the US SEC argued over the ‘Common Enterprise’ matter and wasn’t able to prove it on Howey Test.
He mentioned the SEC v. W.J. Howey Co. (1946) and stated that the SEC unsuccessfully argued that an investment in a ‘Common enterprise’ was unnecessary provided. Alderoty added that there was a “community of interest. He claimed that the SEC was wrong during the argument then and is stand wrong on the matter.
Dogecoin Price Analysis: Will DOGE Price Hit $0.1 Mark Before May 2023 End?24/7 Cryptocurrency News XRP Price Analysis: Accumulation at Crucial Support Sets XRP Price for a Quick 8% Rise24/7 Cryptocurrency News Buyers Losing Key Support Hints Ethereum Price at 12% Downside Risk for Coming Week24/7 Cryptocurrency News Demand Pressure at Key Support Hints Bitcoin Price to Rise 7% in Coming Week; Enter Now?24/7 Cryptocurrency News PEPE Price Analysis: Bullish Pattern Forecast a 50% Rally in Pepecoin; Enter Today? 24/7 Cryptocurrency News
Ripple’s Chief Legal Officer highlighted the Revak v. SEC Realty Corp case which exposes the commission’s take on categorisation. Alderoty called it the SEC’s sleight of hand. He mentioned that without a “commons enterprise” it doesn’t matter whether ‘the fortunes of investors” are tied to the efforts of others. However, he further added that the Howey test is not “so easily satisfied”.
