Hey there Extreme Investors! Today, we are diving into the latest developments in the ongoing legal battle between Ripple and the SEC. The recent filing from the SEC has caused quite a stir in the crypto community, with several arguments in the reply brief catching the attention of investors.
One key argument made by the SEC is regarding post-complaint XRP sales to institutional investors. The SEC has emphasized that pre-complaint ODL institutional sales violated US securities laws, raising concerns among investors. Additionally, the SEC has highlighted Ripple’s plans to launch a stablecoin, suggesting that it could be considered an unregistered security and breach US securities laws once launched.
Legal expert Jeremy Hogan of Hogan and Hogan shared his thoughts on the reply brief, expressing that the SEC seemed to go out with a whimper and did not bring any new insights on damages. Now, all eyes are on the courts as they determine the penalty Ripple must pay for violating Section 5 of the 1933 US Securities Act.
One interesting aspect to watch out for is whether the courts will consider XRP sales to non-US institutional investors. Ripple has argued that most of its ODL business is conducted outside the US, bringing up the question of jurisdiction in this case.
As the legal battle continues to unfold, make sure to stay tuned to Extreme Investor Network for the latest updates and expert analysis on the stock market, trading, and all things Wall Street. Don’t miss out on valuable insights that can help you navigate the ever-changing landscape of the financial world. Happy investing!
