Ripple’s Lawyer Assures: SEC Won’t Challenge XRP’s Core Non-Security Status

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Community Concerns
  2. Ripple vs. SEC Legal Battle
  3. SEC Potential Appeal Strategy


    4. Ripple’s lawyer reassured the community that the SEC won’t challenge XRP’s core non-security status at the first instance.

    Community Concerns

    Pro-XRP lawyer Bill Morgan addressed concerns about the SEC potentially using obiter dictum to challenge XRP’s status. He assured that while obiter isn’t final on appeal, the SEC has indicated its focus remains on Ripple’s institutional sales, not XRP’s core status.

    Ripple vs. SEC Legal Battle

    Morgan’s comments came amid the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Ripple’s legal team dispelled speculation about the SEC’s appeal strategy to rely on obiter dictum—legal comments not central to the court’s ruling.

    SEC Potential Appeal Strategy

    These speculations sparked concerns that the regulator may attempt to challenge the status of XRP as a non-security on appeal. However, the Ripple lawyer reassured the community, stating the SEC’s primary focus on appeal will be on institutional sales by Ripple.

    In conclusion, Ripple’s lawyer reassured the community that the SEC’s focus in the appeal will be on Ripple’s institutional sales, not XRP’s status.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin's Long-Term Outlook Remains Encouraging

Bitcoin's established network and limited supply contribute to a positive long-term outlook despite recent declines.

user avatarGustavo Mendoza

Potential Recovery for Bitcoin Above Key Resistance Levels

Bitcoin could regain momentum if it surpasses critical resistance levels, with targets set at 81,300 and beyond.

user avatarMaria Fernandez

Gate Reports Impressive Cold Storage Coverage Ratio

Gate's cold storage coverage ratio reached an impressive 104.58%, ensuring all user assets are secure.

user avatarRajesh Kumar

Gate Launches Innovative Proof of Security Framework

Gate has launched a new asset security verification framework called Proof of Security (PoSEC), becoming the first digital asset trading platform to implement such a system.

user avatarMiguel Rodriguez

US DOJ Launches Task Force to Combat AI Misuse

The US Department of Justice has launched a task force to combat the misuse of advanced artificial intelligence, ensuring American leadership is not compromised by bad actors.

user avatarLuis Flores

Mercado Bitcoin Suffers Major Security Breach with $48 Million Stolen

Mercado Bitcoin has reported a significant security breach, with over $48 million in assets stolen across 11 blockchains. The breach occurred on November 2, 2023, challenging the exchange's claims of containment.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.