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Ripple and SEC’s Ongoing Legal Struggle

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On March 7, the ongoing legal struggle between the United States Securities and Exchange Commission (SEC) and Ripple Labs continued with a new court ruling. Th…

Ripple and SECs Ongoing Legal Struggle

On March 7, the ongoing legal struggle between the United States Securities and Exchange Commission (SEC) and Ripple Labs continued with a new court ruling. The court has now ruled on the motion of both parties, and the expert testimony will not be considered in summary judgment and trial. In the judgment, Judge Analisa Torres approved part of the motion and rejected other motions. Neither the plaintiff nor the defendant gained the upper hand. However, one of the key results of the ruling was to exclude Patrick Doody, the No. 1 expert, from testifying on the view of a reasonable buyer of Swiss coins. It is noteworthy that the SEC had previously hired Doody to analyze the expectations of token buyers, but the judge now approved Ripple’s motion to exclude his testimony. Without Doody’s testimony, it is unclear how the SEC will prove that investors have “reasonable” profit expectations for XRP.

The United States court refused the testimony of the SEC’s main witness, and Ripple filed a “reasonable notice” defense according to the latest court decision

Interpretation of the news:


The legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) continued on March 7, with a new court ruling that approved part of the motion made by both parties. However, the expert testimony will not be considered in summary judgment and trial. In the ruling, Judge Analisa Torres excluded Patrick Doody, who was previously hired by SEC to analyze token buyer expectations, from testifying on the view of a reasonable buyer of Swiss coins.

One of the critical aspects of the Ripple-SEC lawsuit is whether XRP is a security or a currency. Ripple argues that XRP is a cryptocurrency and not a security, while SEC maintains that it is an unregistered security. The exclusion of Doody’s testimony on reasonable profit expectations of XRP investors is a significant blow to SEC, as they have been struggling to provide conclusive evidence that XRP investors had reasonable profit expectations.

The court ruling did not give a clear upper hand to either Ripple Labs or SEC. Thus, the legal battle continues, and the outcome of the case will have significant implications for the US cryptocurrency industry. For instance, if the court rules that XRP is a security, it could lead to a significant downturn in the value and adoption of XRP. On the other hand, if the court rules in favor of Ripple Labs, it could boost the adoption and value of XRP.

In conclusion, the Ripple-SEC legal battle is an essential case that will set a precedent for the regulation of the US cryptocurrency industry. The exclusion of Doody’s testimony on reasonable profit expectations of XRP investors is a significant setback to SEC’s case. However, it remains to be seen how the lawsuit will play out and whether SEC will be able to provide conclusive evidence that XRP is an unregistered security.

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