New Trial Between SEC And Ripple (XRP)


ripple ve sec

The final leg of the trial between SEC and Ripple (XRP) took place.

To be informed instantly about the last minute developments, Twitter and Telegram You can follow on our channel.

Jorge Tenreiro, a senior trial lawyer at the US Securities and Exchange Commission, made a presentation at his phone conference with Judge Judge Sarah Netburn. He argued that Ripple’s lawyers told the company that XRP could be a currency and a security. He also stated the following.

“They were sophisticated actors and for this purpose they hired at least 12 law firms. Ripple’s alleged confusion must be tested against what is actually said. “

Tenreiro claimed that while the defendants reflected their mood in the case, the uncertainty allegations for Howey were denied invalidity.

“They directly placed their moods as part of their defense.”

Tenreiro says that if he chooses not to follow advice from lawyers, Ripple is “game over”:

“If they get advice and don’t follow, they’ll lose… Whatever their lawyer tells them they still have to deal with the SEC. This means the end of their defense. They are confused and we don’t know what the exchanges are giving. “

Ripple’s Response

Ripple’s lawyer Gregory Rapawy claims that the advice Ripple received is not a matter of defense:

“It doesn’t matter whether we believe XRP is not an investment contract or not. Our defense is extremely fair. “

In response, Tenreiro asked Ripple to withdraw his positive defense.

In addition, Rapawy adds, Ripple does not resist the search for non-privileged internal documents, and that both parties’ internal documents are potentially related to fair reporting defense.

Judge Netburn declared that he would announce the decision “as soon as possible”.