The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. What Are Ripple's Chances of Beating The SEC in Court? According to Deaton, the law is on the side of the US crypto exchange. As such, while Garlinghouse says, we are not only on the right side of the law, but we will be on the right side of history, the truth of the matter is that the SEC has a strong track record. The biggest crypto news and ideas of the day. Among other things, this means that US-based cryptocurrency exchanges would potentially be required to delist the XRP token. Brad Garlinghouse Comments on the SEC. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. The legal teams restated their positions on whether XRP should be classified as a security. The SEC is not looking to apply the law they are looking to remake the law in the hopes that it can impermissibly expand their jurisdiction.. In a separate thread, Larsen agreed with Hoskinson on the larger point at hand. Very little was known about the suit at that time, and some noted that it was unusual for a company to come out and reveal an SEC suit before the SEC themselves. This is because most cryptocurrency projects with ICOs do not actually have a functioning product at the outset. It could be that a win for the crypto company in the Ripple/SEC lawsuit could lead to the price going up and a loss in the Ripple lawsuit could cause it to drop, but we do not know for sure. If Ripple wins, here are the things that could happen: Institutions (Big Money) pump XRP. The lawsuit is against Ripple Labs, Inc., creator of the XRP tokenwhich was at the time one of the top cryptocurrencies by market capitalization at $27 billion. Democrats and Republicans could agree on a deal raising the debt limit. The Ripple team believes that the same logic should be applied to XRP. Its not possible..
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