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Crypto News: In the aftermath of the historic Summary Judgment in the XRP lawsuit ruling, Ripple had upped the ante in its fight against the U.S. Securities and Exchange Commission (SEC). On Monday, Stuart Alderoty, the chief legal officer at Ripple, released what could be the first of many videos as part of the ‘After Hours’ series. The video is aimed at clearing the confusion about securities, investment contracts and digital assets. On July 13, 2023, Judge Analisa Torres ruled in the Ripple Vs SEC lawsuit that XRP is not a security when sold to retail buyers.
Also Read: MakerDAO’s Bold Move Into Traditional Assets Fuels MKR Token Surge
Meanwhile, the XRP community has been awaiting a response to the ruling from the US SEC officials. In a recent court filing in the Terraform Labs case, the agency indicated that it does not agree with the Summary Judgment and intends to review the decision. This came after Terra cofounder Do Kwon referred to the Ripple judgment as a precedent in the Terra fraud case.
Ripple Roasts Gary Gensler
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Alderoty explained that investment contracts involve a transacting with one party taking money from the other and promise to increase the investment value. He added that the US SEC Chair has been trying to confuse people by saying digital tokens in and of itself can be a digital asset security.
“Some (Gary Gensler) have been doing their best to confuse you for years bacause the SEC only has jurisdiction over securities and not otherwise.”
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Welcome to O̵f̵f̵i̵c̵e̵ After Hours with me! Let’s clear up this confusion about securities, investment contracts and digital assets. pic.twitter.com/57uBOW3qGw
— Stuart Alderoty (@s_alderoty) July 31, 2023
The XRP price has been recording sideways movement since the jump it took after the lawsuit ruling.
Also Read: Terra Luna Classic Community Set To Burn 800 Million Tokens, LUNC And USTC To $1?
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- Source: https://coingape.com/xrp-ripple-gary-gensler-crypto-news/
