| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $106452.5500000000 |
| ETH | $2439.3950000000 |
| BNB | $650.6401100000 |
| XRP | $2.1976030000 |
| ADA | $0.5524553000 |
| SOL | $148.2396000000 |
| DOGE | $N/A |
| DOT | $3.3256700000 |
| LTC | $85.1752000000 |
| LINK | $13.0665300000 |
Category: CRYPTO NEWS
The post U.S. SEC files last-minute opening brief against Ripple challenging 2023 ruling appeared on BitcoinEthereumNews.com. The U.S. SEC is willing to continue its years-long battle with the blockchain-powered cross-border remittance provider Ripple. However, Ripple’s chief legal officer Stuart Alderoty termed the case as noise and believes the case will be dismissed in the next administration. The United States Securities and Exchange Commission (SEC) has filed its opening brief to escalate its legal battle against blockchain-based digital payment network Ripple with only a few hours before the deadline elapsed. In October last year, the U.S. Court of Appeals for the Second Circuit ordered that the U.S. SEC vs. Ripple and its executive brief be filed on or before January 15, 2025 failure to which the appeal would be dismissed. Court filings show the U.S. SEC is challenging Judge Analisa Torres’ July 13, 2023 ruling The court documents reveal that the regulator seeks to challenge part of the July 13, 2023 ruling by New York Judge Analisa Torres that categorized XRP tokens differently when dispensed to retail and institutional investors. #XRPCommunity #SECGov v. #Ripple #XRP @Ripple The @SECGov has filed its opening brief.https://t.co/v0YTjHGxzV — James K. Filan 🇺🇸🇮🇪 (@FilanLaw) January 15, 2025 The financial watchdog explained that Torres’ conclusion that profits can’t be expected unless investors knowingly buy from the issuer is against both applicable law and the “undisputed facts.” The SEC emphasized that the court’s ruling is against fundamental securities laws and builds an unsustainable contradiction between investor expectations. The SEC argues that the ruling contradicts the Howey Test which is used to establish whether an asset is a security or not. The document showed that the regulator continued to accuse Ripple, its co-founder Christian Larsen, and the company’s Chief Executive Officer Brad Garlinghouse of breaking the securities regulations when selling XRP tokens to retail and institutional investors. The commission also criticized the ruling for distinguishing…
2025-01-16T04:39:23+00:00