The U.S.Securities and Exchange Commission (SEC) and RIpple defendants finally submitted their motion of Summary Judgement in the crucial XRP lawsuit.However, this also kicks off the curiosity and anticipation among the XRP community over the outcome of the case.
XRP Lawsuit Summary Judgement motions go public
Attorney James Filan informed that Brad Garlinghouse and Chris Larsen filed the motion seeking judgment as a matter of law.He added that these filed motions were not expected till Monday.
However, they have been submitted earlier than expected in the XRP lawsuit.The motion is public and now anyone can analyze them.
Eleanor Terrett, Fox Business Journalist, shared the official statement of Ripple’s General Counsel, Stuart Alderoty after submitting the motions.
Ripple’s General Counsel mentioned that these fillings suggest that the commission has crossed the legal boundaries.
The SEC is acting outside its legal limit.
He added that the SEC is not looking to apply the law.
Instead of this, they are trying to alter the law.
The commission is in the hope that it can impermissibly expand its jurisdiction keeping the XRP lawsuit result into consideration.
Trending Stories
Ripple Counsel gives hot take over proceedings
However, Stuart Alderoty took to Twitter to present his hot take on the XRP lawsuit.He highlighted that even after two years of extensive litigation, the SEC is still unable to spot any contract for investment.It is what the statute requires.
He added that the commission hasn’t been able to satisfy a single condition of the Howey test.Alderoty asserted that everything else around the XRP lawsuit is just noise.However, US Congress only gave the SEC jurisdiction over securities.
Brad Garlinghouse, Ripple CEO stated that the latest filings in the XRP lawsuit assure that the SEC is not interested in applying the law.He reverberated that it is the commission’s impermissible effort to expand its authority.
– [Just-In: Prosecutors Refutes Terra Founder Do Kwon’s Defense, LUNC Price Falls]
– [Why Ethereum Price Drop Is FUD and “Short Term Noise”?]
– [Ethereum Fails Critical Test, This Will Be The New Price]
– [Crypto Plummets As Altcoins Tank, Why Is Crypto Crashing Today?]
– [Here’s Why XRP Price Is Surging Despite Struggling Crypto Market]
– [Breaking: Cardano (ADA) Price And Vasil Hard Fork Have “Priced-In”]
– [Bitcoin (BTC) Stronger After Merge? Here What MicroStrategy Michael Saylor Think]
– [Ethereum (ETH) Price At Inflection Point, Here’s Why Further Fall Will Be Fatal]
– [Recession Incoming: World Bank Sounds Alarm, How To Protect Crypto?]
– [Bear Market: How Long Will The Fed Hold Back Crypto Prices?]
– [Can The Rising Chiliz Coin Price Surpass $2.25 Barrier?]
– [Bullish Pattern Sets PancakeSwap Coin Recovery To Exceed $5]
– [Here’s Why Ethereum Could Rally 10% Before Continuing Its Downfall]
– [Is Bitcoin Market Value Dropping Below $18800?]
– [Here’s Why ApeCoin Price May Drop Below The $4.26 Support]
– [Rising Stellar Price Aims For $1.3 Mark; Buy Now?]
– [Helium Coin Recovery May Surge 15% Before The Next Bear Cycle]
– [Bearish Pattern Threatens XRP Price For Longer Correction, But Will it?]
– [Can This Emerging Pattern Resume LUNC Price Recovery?]
– [Bullish RSI Divergence Hints MANA Price Likely To Rebound From $0.71].