The post Ripple vs. SEC: Pro-XRP Attorney Shares Insider Insights on Company’s Legal Strategy appeared first on Coinpedia Fintech News
As Ripple’s Liquidity Hub recently excluded XRP from its list of supported assets, concerns and speculation have arisen within the XRP community. To address these anxieties, Bill Morgan, a pro-XRP attorney, offered some insights into Ripple’s legal strategy against the U.S. Securities and Exchange Commission.
Understanding the Exclusion of XRP
Bill suggests that XRP’s exclusion from the Liquidity Hub might not be due to a negative assessment of the company’s prospects. Instead, he believes the decision is based on the product’s nature or commercial imperatives.
A few months after the lawsuit with the SEC started, Ripple had initially included XRP in the list of supported assets in the Liquidity Hub document. Bill highlights that with a significant risk of Ripple losing the lawsuit, the company may have excluded XRP to avoid potential securities contravention issues.
This strategy could allow Ripple to push the Liquidity Hub in the US market without causing users to worry. Additionally, a Ripple Liquidity Hub without XRP could serve as a good hedge in case the company loses the case against the SEC and diversify Ripple’s revenue sources.
Ripple’s Response to SEC’s Letter
Ripple’s legal team has filed a letter responding to the SEC’s letter of supplemental authority supporting its motion for summary judgment. In the letter, Michael K. Kellogg, Ripple’s attorney, argues that the SEC’s cited case against Commonwealth Equity Services does not provide grounds to dismiss Ripple’s fair notice defense.
The SEC had referenced the Commonwealth case to justify rejecting Ripple’s fair notice defense and granting the motion for summary judgment. Ripple countered that the Commonwealth case lacked contemporaneous evidence to support the fair notice defense, whereas Ripple’s case has substantial evidence, including SEC records and correspondence with outside parties.
Potential Impact of the Verdict
John E Deaton, another pro-Ripple lawyer representing XRP token owners in the ongoing lawsuit, shared his thoughts on the potential impact of the verdict. In an interview, Deaton stated that if Judge Analisa Torres rules in the SEC’s favor, it could result in numerous enforcement actions in the coming years.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks