Ripple is a blockchain-based payment system that has been making waves in the cryptocurrency space. It is a distributed ledger technology that enables users to send and receive payments in a fast, secure, and reliable way. The company behind Ripple, Ripple Labs, has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC) over the status of its native token, XRP.
The SEC has alleged that Ripple Labs sold XRP as an unregistered security, which is a violation of US securities laws. Ripple Labs has denied the charges, arguing that XRP is a digital asset and not a security. The dispute has been ongoing for some time, but now, prominent attorney John Deaton has put his weight behind Ripple in the case against XRP holders.
According to Deaton, Ripple has been able to successfully get the SEC to admit that XRP is a software code. Deaton said in a tweet, “Let me quote what we forced the SEC to admit: ‘Stripped down, XRP is software code.’ XRP, like gold, BTC groves, etc., can be offered and sold as a security. Whether the Ripple founders violated securities laws at some point is irrelevant to what XRP is today.”
This is a major development in the case, as it could mean that Ripple could win the case against the SEC. Deaton is also planning to submit a request to file an amicus brief in the Zakinov versus Ripple Labs lawsuit. The brief will challenge the claims that Ripple offered XRP as an unregulated security.
The plaintiffs in the case are asking the court to certify a class of all XRP holders who purchased the token. Deaton is arguing in defense of Ripple, and his main talking point is focused on challenging the plaintiffs’ claims and proving that XRP is not an unregistered security.
The case has gained a lot of support from the XRP community, with more than 75,000 XRP holders not siding with the plaintiffs. These holders will be present during the motion that will be held in California. They also believe that XRP is not a security.
John Deaton is a prominent attorney in the Ripple space, and his support for Ripple in the case against XRP holders is a major development. His argument that XRP is a software code and not an unregistered security could be a major victory for Ripple.
It remains to be seen how the case will play out, but Deaton’s argument could be a game-changer for Ripple. If Ripple wins the case, it could have a major impact on the cryptocurrency space, as many projects are currently facing similar legal battles.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Ripple is a blockchain-based payment system that has been making waves in the cryptocurrency space. It is a distributed ledger technology that enables users to send and receive payments in a fast, secure, and reliable way. The company behind Ripple, Ripple Labs, has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC) over the status of its native token, XRP.
The SEC has alleged that Ripple Labs sold XRP as an unregistered security, which is a violation of US securities laws. Ripple Labs has denied the charges, arguing that XRP is a digital asset and not a security. The dispute has been ongoing for some time, but now, prominent attorney John Deaton has put his weight behind Ripple in the case against XRP holders.
According to Deaton, Ripple has been able to successfully get the SEC to admit that XRP is a software code. Deaton said in a tweet, “Let me quote what we forced the SEC to admit: ‘Stripped down, XRP is software code.’ XRP, like gold, BTC groves, etc., can be offered and sold as a security. Whether the Ripple founders violated securities laws at some point is irrelevant to what XRP is today.”
This is a major development in the case, as it could mean that Ripple could win the case against the SEC. Deaton is also planning to submit a request to file an amicus brief in the Zakinov versus Ripple Labs lawsuit. The brief will challenge the claims that Ripple offered XRP as an unregulated security.
The plaintiffs in the case are asking the court to certify a class of all XRP holders who purchased the token. Deaton is arguing in defense of Ripple, and his main talking point is focused on challenging the plaintiffs’ claims and proving that XRP is not an unregistered security.
The case has gained a lot of support from the XRP community, with more than 75,000 XRP holders not siding with the plaintiffs. These holders will be present during the motion that will be held in California. They also believe that XRP is not a security.
John Deaton is a prominent attorney in the Ripple space, and his support for Ripple in the case against XRP holders is a major development. His argument that XRP is a software code and not an unregistered security could be a major victory for Ripple.
It remains to be seen how the case will play out, but Deaton’s argument could be a game-changer for Ripple. If Ripple wins the case, it could have a major impact on the cryptocurrency space, as many projects are currently facing similar legal battles.
Deaton’s argument is based on the fact that XRP is a software code and not a security. He believes that XRP, like other digital assets, can be offered and sold as a security, but the fact that Ripple’s founders may have violated securities laws at some point is irrelevant to what XRP is today.
The argument is compelling, and if Ripple is able to win the case against the SEC, it could be a major victory for the cryptocurrency space. Not only would it be a win for Ripple, but it could also set a precedent for other projects facing similar legal battles.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Ripple’s legal battle with the SEC is an ongoing dispute that could have serious implications for the cryptocurrency space. The SEC has alleged that Ripple Labs sold XRP as an unregistered security, which is a violation of US securities laws. Ripple Labs has denied the charges, arguing that XRP is a digital asset and not a security.
Prominent attorney John Deaton has put his weight behind Ripple in the case against XRP holders. According to Deaton, Ripple has been able to successfully get the SEC to admit that XRP is a software code. Deaton said in a tweet, “Let me quote what we forced the SEC to admit: ‘Stripped down, XRP is software code.’ XRP, like gold, BTC groves, etc., can be offered and sold as a security. Whether the Ripple founders violated securities laws at some point is irrelevant to what XRP is today.”
This is a major development in the case, as it could mean that Ripple could win the case against the SEC. Deaton is also planning to submit a request to file an amicus brief in the Zakinov versus Ripple Labs lawsuit. The brief will challenge the claims that Ripple offered XRP as an unregulated security.
The plaintiffs in the case are asking the court to certify a class of all XRP holders who purchased the token. Deaton is arguing in defense of Ripple, and his main talking point is focused on challenging the plaintiffs’ claims and proving that XRP is not an unregistered security.
The case has gained a lot of support from the XRP community, with more than 75,000 XRP holders not siding with the plaintiffs. These holders will be present during the motion that will be held in California. They also believe that XRP is not a security.
John Deaton is a prominent attorney in the Ripple space, and his support for Ripple in the case against XRP holders is a major development. His argument that XRP is a software code and not an unregistered security could be a major victory for Ripple.
It remains to be seen how the case will play out, but Deaton’s argument could be a game-changer for Ripple. If Ripple wins the case, it could have a major impact on the cryptocurrency space, as many projects are currently facing similar legal battles.
Deaton’s argument is based on the fact that XRP is a software code and not a security. He believes that XRP, like other digital assets, can be offered and sold as a security, but the fact that Ripple’s founders may have violated securities laws at some point is irrelevant to what XRP is today.
The argument is compelling, and if Ripple is able to win the case against the SEC, it could be a major victory for the cryptocurrency space. Not only would it be a win for Ripple, but it could also set a precedent for other projects facing similar legal battles.
The case is ongoing, and the outcome could have serious implications for the entire cryptocurrency space. If Ripple wins the case, it could pave the way for other projects
