In Dispute With Ripple, SEC Loses 5 Of 6 Suits

The U.S. Securities and Exchange Commission (SEC) has lost five recent lawsuits in the U.S. Supreme Court, giving hope to the crypto community as the legal battle between Ripple and the SEC continues.

by line tweet Sent by blockchain company general counsel Stuart Alderoty on April 14, the most recent US Supreme Court loss is SEC v Michelle Cochran ), in which regulators charged a public company in Texas with certified public accountants for failing to meet federal audit standards.

On April 16, Attorney John E. Deaton (John E. Deaton) share In a 2018 video, American investor Tim Draper told Gary Gensler that banks are panicking about the crypto market and that there will be lawsuits, media pressure, and multiple financial regulators to stop its growth. Deaton is representing more than 76,000 XRP holders in the ongoing lawsuit.

old roti too share The update refers to a sobering letter sent to Gensler by Patrick McHenry, Chairman of the US House Financial Services Committee, and the Chairman of the US House of Representatives, requesting records related to the arrest of Sam Bankman-Fried. Supervisor and investigator Bill Huizenga. It seems that these authorities are “in the same boat” as Ripple in fighting for the SEC’s documents.

Bankman-Fried, in particular, was scheduled to appear before the FSC on Dec. 13 but was barred from appearing because he was in custody. The committee sent a letter to Gensler on the matter on February 10. However, instead of providing the necessary information in a timely manner, the SEC presented irrelevant documents.

In another authorization letter sent on April 12 in support of the SEC’s request for summary judgment, the SEC’s counsel cited a Massachusetts court’s decision denying the defendant’s “fairness of notice” request and standing in cases related to securities fraud. Regulators side case.

In response, Ripple attorney Michael K. Kellogg argued that the proceedings referred to by the SEC were an “unpublished district court position” and were irrelevant because Ripple had “substantial evidence (…) of reasonable of market participants trying to understand what the SEC would allow or prohibit concluded that the defendants’ XRP offers and sales were not “investment contracts,”” and told the SEC. “

xrp ripple

pairUm?You haveoh XRP price 4 hoursWell | stupidohn: transaction view

XRP is trading at $0.5121 after adding $8.8 billion in market capitalization in just 30 days. Based on the latest information received on April 17, this implies a 2% drop on the day, but a gain of almost 2% in seven days, and a 34% gain on the monthly chart.


according to Kyptos

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