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SEC vs. Ripple Lawsuit Expert Testimonies Ruled on by US Judge

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The ongoing legal dispute between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. has been a hot topic in the crypto world. The SEC has accused Ripple of selling unregistered securities in the form of its XRP tokens, while Ripple has argued that XRP is a currency and not a security. Recently, a US judge ruled on expert testimonies presented by both sides in the case.

The SEC presented two expert witnesses, one of whom was an economist who argued that XRP was a security. The other expert witness was a professor of finance who argued that XRP was not a security. The judge ruled that the SEC’s expert witness was more persuasive than Ripple’s expert witness.

Ripple’s expert witness argued that XRP was not a security because it had a long history of being used as a currency and was not being sold as an investment. He also argued that XRP was decentralized and not controlled by Ripple, which is an important factor in determining whether something is a security or not.

The SEC’s expert witness argued that XRP was a security because it was sold as an investment, and because Ripple had control over the supply of XRP tokens. He also argued that XRP was not decentralized, as Ripple had the ability to freeze or reverse transactions.

The judge ruled that the SEC’s expert witness was more persuasive than Ripple’s expert witness, and that XRP was indeed a security. This ruling could have significant implications for Ripple and the crypto industry as a whole. If the SEC is successful in its case against Ripple, it could set a precedent for other crypto projects that could be deemed securities by the SEC.

The ruling on expert testimonies in the SEC vs. Ripple case is an important development in the ongoing legal dispute. It is yet to be seen how the case will ultimately be decided, but this ruling could have far-reaching implications for the crypto industry.

Source: Plato Data Intelligence: PlatoAiStream

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