Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Ripple Arms Itself With Former SEC Chairwoman In Preparation For Its Court Case

Posted on juni 6, 2018 by Blockchain News

As Ripple prepares to defend itself from being classified as a security, it adds a former Securities and Exchange Commission (SEC) chairwoman to its defense team.

Ripple has a court case coming up. The cases final decision could be a fateful one for Ripples future since the outcome will determine whether the XRP token is a security or not. It is likely that the decision made in this case will affect the broader market since many other projects are enduring similar scrutiny.

In preparation for Ripple’s impending court case, the company has decided to add former SEC chairwoman Mary Jo White to their defense team. Ripple also added White’s enforcement chief Andrew Ceresney to its team.

This move accentuates the importance of this case to Ripple. Ripple’s classification as a security would negatively impact their organization.

A spokesperson for Ripple recently argued,

“We continue to believe XRP should not be classified as a security. We feel confident that the claims regarding XRP are completely unfounded both in law and fact.”

Plaintiff Ryan Coffey disagrees with this claim. Coffey believes that Ripple violated the Securities Act since Ripple’s XRP token is not registered with the SEC.

Within the suit, Coffey argues,

“Defendants have since earned massive profits by quietly selling off […] XRP to the general public, in what is essentially a never-ending initial coin offering… In order to increase demand for XRP, and thereby increase the profits it can derive by selling XRP, Ripple Labs has consistently portrayed XRP as a good investment, relayed optimistic price predictions, and conflated Ripple Labs’ enterprise customers with usage of XRP.”

It will likely be difficult to decide that XRP should be classified as a security given Ripple’s new lines of defense. Having a former SEC chairwoman defending XRP’s classification will likely bring about a swift end to the case. Furthermore, it is likely that the outcome of this case will bring some clarity to the crypto token security classification debate.

That said, the security classification debate does not seem to be ending anytime soon. Read more about Ethereum’s impending securities decision here. The linked article also dives into possible outcomes for Ethereum that should similarly represent the possible outcomes of Ripple’s case.

 

 


Source: Altcoin Buzz News
Original Post: Ripple Arms Itself With Former SEC Chairwoman In Preparation For Its Court Case

Ledger Nano X - The secure hardware wallet

Recente berichten

  • KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum
  • KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum
  • The impact of the Credit Suisse bank crisis on the crypto market
  • U.S. IRS explores NFT taxation; seeks public discourse
  • Crypto Exchange Luno Rejigs Leadership Roles as It Seeks to Boost Investor Base, Eyes Public Listing

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme