{"id":38048,"date":"2022-10-23T06:18:50","date_gmt":"2022-10-23T10:18:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=38048"},"modified":"2022-10-23T06:18:53","modified_gmt":"2022-10-23T10:18:53","slug":"sec-files-legal-memorandum-against-ripple","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sec-files-legal-memorandum-against-ripple\/","title":{"rendered":"SEC Files Legal Memorandum Against Ripple"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-following-the-release-of-hinman-speech-related-documents-to-ripple-by-the-sec-the-latter-has-moved-to-file-its-legal-memorandum-in-opposition-to-the-ripple-defendants\">Following the release of Hinman Speech-related documents to Ripple by the SEC, the latter has moved to file its <a href=\"https:\/\/coinscreed.com\/staging\/legal-expert-claims-uae-regulators-pave-way-for-crypto-and-blockchain-adoption.html\" target=\"_blank\" rel=\"noreferrer noopener\">legal Memorandum<\/a> in opposition to the Ripple Defendants.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-1024x576.jpg\" alt=\"SEC Files Legal Memorandum Against Ripple \" class=\"wp-image-8942\" width=\"824\" height=\"464\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-1024x576.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-300x169.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-768x432.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-355x200.jpg 355w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-scaled.jpg 1200w\" sizes=\"(max-width: 824px) 100vw, 824px\" \/><figcaption>SEC Files Legal Memorandum Against Ripple <\/figcaption><\/figure>\n\n\n\n<p>The uncontested evidence demonstrates that the defendants participated in unregistered offers and sales of securities, the SEC stated in the memo. Ripple implicitly admits they will lose the Howey test.<\/p>\n\n\n\n<p>The commission argued that while the defendants' argument may appear original, it is wholly ineffective. The defendants' faked test has no legal standing. In this case, the law is on the side of the SEC.<\/p>\n\n\n\n<p>The weight of the Defendants' Motion cannot be supported entirely by two words from Howey that have been transformed into an artificial test. featured the US SEC. The statement from <a href=\"https:\/\/www.google.com\/search?q=SEC+Files+Legal+Memorandum+Against+Ripple&rlz=1C1SQJL_enNG889NG889&oq=SEC+Files+Legal+Memorandum+Against+Ripple&aqs=chrome..69i57j33i160l2.45976j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">Ripple and the defendants<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>, it was further stated, entirely disregards the volume of pledges made in public to work to increase the value and liquidity of XRP.<\/p>\n\n\n\n<p>Ripple is not relying on any fact witness testimony. The evidence of the defendants' experts served as their sole source of support. But the Daubert rule excludes these specialists. Because the facts are unimportant, their request for summary judgment cannot be supported.<\/p>\n\n\n\n<p>After the <a href=\"https:\/\/coinscreed.com\/staging\/ripple-finally-gets-hold-of-sec-hinman-document.html\">SEC decided to provide the emails pertaining to the Hinman speech<\/a>, this action was taken. After a long wait of more than 18 months and six court orders, according to Stuart Alderoty, general counsel of Ripple, they have now obtained the records. He also said that winning the battle to get them was definitely worth it.<\/p>\n\n\n\n<p>The SEC has, however, asked Judge Netburn in a letter to redact two drafts of the 2018 Hinman speech. Judge Netburn has been given the crucial drafts for the motion's in-camera review. Even the April 11, 2022 order regarding the DPP question was noted by the commission.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the release of Hinman Speech-related documents to Ripple by the SEC, the latter has moved to file its legal Memorandum in opposition to the Ripple Defendants. The uncontested evidence demonstrates that the defendants participated in unregistered offers and sales of securities, the SEC stated in the memo. Ripple implicitly admits they will lose the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":8942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[11875,142,143],"class_list":["post-38048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripples-news","tag-legal-memorandum","tag-ripple","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ripple-files-motion-to-reveal-SEC-employees-XRP-holdings-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/38048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=38048"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/38048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8942"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=38048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=38048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=38048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}