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Pro-XRP Lawyer Shares Legal Insights On XRP Programmatic Sales – Crypto News

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1 year ago

May 11, 2024

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In the ever-evolving landscape of crypto regulation, legal battles continue to shape the industry’s future, especially with the recent battle of Ripple and Coinbase against the SEC. Notably, amid ongoing scrutiny from regulatory bodies like the U.S. Securities and Exchange Commission (SEC), Ripple’s legal saga takes center stage once again.

For context, recent comments from pro-XRP lawyer Bill Morgan shed light on the intricacies of Ripple’s programmatic sales and their legal implications, offering a glimpse into the complexities of the case.

XRP Lawyer Shares Legal Insights

Amid mounting tensions surrounding Ripple’s legal battle with the SEC, pro-XRP lawyer Bill Morgan weighs in on the potential ramifications of recent developments. Notably, Morgan’s commentary comes in response to FOX journalist Eleanor Terret’s update.

In a recent X post, Eleanor Terret highlights the SEC’s stance on Coinbase’s request for an interlocutory appeal regarding conventional securities rules’ application to cryptocurrencies. However, the XRP lawyer’s remarks suggest a nuanced interpretation of Ripple’s programmatic sales in light of ongoing legal proceedings.

Meanwhile, Morgan emphasizes the significance of Ripple’s case in establishing a precedent for programmatic sales’ regulatory status, particularly in the absence of court precedents aligning with the SEC’s position. In addition, he even said that if Ripple prevails without an appeal, it could set a precedent wherein programmatic sales may not require registration.

Precisely, Bill Morgan’s comment and insights have gained traction, as the situation he said, could potentially offer Ripple respite amidst regulatory scrutiny. However, the broader implications of such a ruling remain subject to legal interpretation and subsequent developments in the case.

Also Read: Billionaire Mark Cuban Calls US SEC Incapable of Handling Crypto Regulations

Rising Tensions In The SEC Vs. Coinbase Case

The SEC’s resistance to Coinbase’s appeal underscores the regulatory uncertainty surrounding cryptocurrency classification and the application of securities laws. Notably, the agency’s dismissal of Coinbase’s argument reflects its steadfast commitment to established legal frameworks, notably the Howey Test, in assessing digital assets’ status as securities.

In addition, the SEC’s skepticism towards Coinbase’s attempt to redefine existing legal standards highlights the challenges inherent in adapting traditional securities laws to the evolving crypto landscape.

Meanwhile, the SEC has faced heavy backlash from the crypto market due to regulatory overreach in the digital asset space. Now, with the discussions intensifying with the ongoing Ripple Vs SEC and Coinbase Vs SEC battle, the investors are seeking more clarity on the legal ground. In addition, the decisions could also shape a new era for crypto regulation.

However, amid this, Ripple’s native crypto, XRP price fell 2.30% to $0.5052, while its trading volume rose 5.30% to $1.03 billion. Notably, the dip in the XRP price could be also attributed to the recent selloff in the broader crypto market.

Also Read: How the Crypto Market Is Performing Today?