Ripple Lawsuit: XRP lawyer offers legal insights on Ripple’s programmatic sales and its potential impact on the broader market amid soaring Coinbase vs. SEC case tensions. By Rupam Roy 5 hours ago Updated 2 hours ago
Highlights
- Pro-XRP lawyer discusses Ripple’s programmatic sales amid ongoing SEC scrutiny.
- The insights come amid the soaring tensions in the Coinbase Vs. SEC lawsuit.
- SEC dismisses Coinbase’s appeal, upholding traditional securities laws for crypto.
In the ever-evolving landscape of crypto regulation, legal battles continue to shape the industry’s future, especially with the recent battle of Ripple and Coinbase against the SEC. Notably, amid ongoing scrutiny from regulatory bodies like the U.S. Securities and Exchange Commission (SEC), Ripple’s legal saga takes center stage once again. For context, recent comments from pro-XRP lawyer Bill Morgan shed light on the intricacies of Ripple’s programmatic sales and their legal implications, offering a glimpse into the complexities of the case.
XRP Lawyer Shares Legal Insights
Amid mounting tensions surrounding Ripple’s legal battle with the SEC, pro-XRP lawyer Bill Morgan weighs in on the potential ramifications of recent developments. Notably, Morgan’s commentary comes in response to FOX journalist Eleanor Terret’s update.
In a recent X post, Eleanor Terret highlights the SEC’s stance on Coinbase’s request for an interlocutory appeal regarding conventional securities rules’ application to cryptocurrencies. However, the XRP lawyer’s remarks suggest a nuanced interpretation of Ripple’s programmatic sales in light of ongoing legal proceedings.
Meanwhile, Morgan emphasizes the significance of Ripple’s case in establishing a precedent for programmatic sales’ regulatory status, particularly in the absence of court precedents aligning with the SEC’s position. In addition, he even said that if Ripple prevails without an appeal, it could set a precedent wherein programmatic sales may not require registration.
Precisely, Bill Morgan’s comment and insights have gained traction, as the situation he said, could potentially offer Ripple respite amidst regulatory scrutiny. However, the broader implications of such a ruling remain subject to legal interpretation and subsequent developments in the case.
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Rising Tensions In The SEC Vs. Coinbase Case
The SEC’s resistance to Coinbase’s appeal underscores the regulatory uncertainty surrounding cryptocurrency classification and the application of securities laws. Notably, the agency’s dismissal of Coinbase’s argument reflects its steadfast commitment to established legal frameworks, notably the Howey Test, in assessing digital assets’ status as securities.
In addition, the SEC’s skepticism towards Coinbase’s attempt to redefine existing legal standards highlights the challenges inherent in adapting traditional securities laws to the evolving crypto landscape.
Meanwhile, the SEC has faced heavy backlash from the crypto market due to regulatory overreach in the digital asset space. Now, with the discussions intensifying with the ongoing Ripple Vs SEC and Coinbase Vs SEC battle, the investors are seeking more clarity on the legal ground. In addition, the decisions could also shape a new era for crypto regulation.
However, amid this, Ripple’s native crypto, XRP price fell 2.30% to $0.5052, while its trading volume rose 5.30% to $1.03 billion. Notably, the dip in the XRP price could be also attributed to the recent selloff in the broader crypto market.
