{"id":38976,"date":"2022-10-31T07:48:16","date_gmt":"2022-10-31T11:48:16","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=38976"},"modified":"2022-10-31T07:48:19","modified_gmt":"2022-10-31T11:48:19","slug":"sec-be-inching-closer-to-its-defeat-in-the-xrp-lawsuit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sec-be-inching-closer-to-its-defeat-in-the-xrp-lawsuit\/","title":{"rendered":"SEC Be Inching Closer to Its Defeat in the XRP Lawsuit"},"content":{"rendered":"\n
Ripple Labs and SEC could be getting closer and closer to a loss. Layton of Forbes<\/a> says that the SEC realized that it had fallen into its own trap. If the SEC goes to the Supreme Court, it will set a precedent that makes the Howey Test less useful.<\/h5>\n\n\n\n
\"SEC
SEC Be Inching Closer to Its Defeat in the XRP Lawsuit <\/figcaption><\/figure>\n\n\n\n

The US Securities and Exchange Commission (SEC) may be getting closer to losing its case<\/a> against Ripple Labs, which makes a payment protocol. All things considered, the ruling could make it much harder for the SEC to regulate crypto in the US.<\/p>\n\n\n\n

Roslyn Layton, a writer for Forbes, posted the following article on her Twitter account:
<\/p>\n\n\n\n

@Curt_Levey @JWVerret on Future of #sec #ripple #CryptoNews #XRPArmy #XRPCommunity https:\/\/t.co\/iozcjJPQtD<\/em><\/p>

\u2014 Roslyn Layton, PhD (@RoslynLayton) October 30, 2022<\/p><\/blockquote>\n\n\n\n

Layton says that as soon as the SEC filed the case, they realized they had fallen into their own trap. She also said that tens of thousands of XRP<\/a> users who had nothing to do with Ripple but were also hurt by the government's actions were also dragged into the legal battle.<\/p>\n\n\n\n

The crypto firm of John E. Deaton, CryptoLaw, tweeted:<\/p>\n\n\n\n

The SEC is facing a bruising defeat against the San Francisco-based enterprise blockchain innovator Ripple. The verdict could drastically limit the SEC\u2019s authority to regulate crypto in the U.S. If that\u2019s how it ends, it will have been a self-inflicted disaster from the start<\/em><\/p><\/blockquote>\n\n\n\n

Ripple finally got the Hinman documents at the beginning of this month, after fighting for them for more than 18 months. The documents<\/a> are still secret for now, but they are seen as a huge win for the XRP team.<\/p>\n\n\n\n

But legal experts<\/a> aren't sure if the decision will make Ripple's chances of winning the lawsuit better or not. Also, a law professor who knows about the case says, “It's possible that the documents Ripple got don't help their case.”<\/p>\n\n\n\n

According to the news, if the SEC takes its case to the Supreme Court<\/a>, it will not only lose, but it will also likely set a broad precedent that will limit or get rid of the Howey Test on crypto, which goes against the criteria from 1946.<\/p>\n\n\n\n

The post Could the SEC's loss in the XRP lawsuit be getting closer? first showed up on Coin Edition.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple Labs and SEC could be getting closer and closer to a loss. Layton of Forbes says that the SEC realized that it had fallen into its own trap. If the SEC goes to the Supreme Court, it will set a precedent that makes the Howey Test less useful. The US Securities and Exchange Commission […]<\/p>\n","protected":false},"author":39,"featured_media":38980,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1727,143,146],"class_list":["post-38976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-lawsuit","tag-sec","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-214.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/38976","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=38976"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/38976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/38980"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=38976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=38976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=38976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}