XRP community loses patience: Parallels between sec vs. Ripple and other crypto processes are drawn

XRP community loses patience: Parallels between sec vs. Ripple and other crypto processes are drawn

The cryptocurrency market is eagerly awaiting the end of the legal dispute between the US stock exchange supervision SEC and Ripple. In the meantime, some members of the XRP community lose patience and draw parallels to other similar cases, such as the case against the crypto trading platform Coinbase and the Sharing platform Lbry.

lawyers who support the interests of XRP warn the community of contacting the presiding judge Analisa Torres or other people who are connected with the case. They argue that this will not have any positive effects. Bill Morgan tweeted: "If you try to contact the judge, you will be even more insulted by it as Gary Gensler, Coinbase and Joe Lubin."

A lawyer named Jeremy Hogan pointed out the case against Coinbase and noticed that the Coinbase opposition script of the SEC, similar to the case of Ripple, tries to avoid the "Blue Sky" law of the state. Hogan emphasized that the Howey case itself considers the state falling authority to be relevant. Paul Grewal, Chief Legal Officer of Coinbase, also expressed his disappointment that the SEC resisted the case to reject the case.

John E. Deaton emphasized the “unconstitutional 'load relocation'” of the Sec. He explained that the SEC argues that XRP and Lbry token owners would not have to worry, since certain exceptions in accordance with Section 4 apply. Deaton described this as unconstitutional "load relocation" and argued that these exceptions only apply to securities and that the load of proof of an exception is postponed as soon as something is regarded as security.

The information in this article should not be regarded as investment advice. Investing is speculative and carries risks for your capital.

Source: Coinphony