{"id":10863,"date":"2022-03-16T14:58:49","date_gmt":"2022-03-16T14:58:49","guid":{"rendered":"http:\/\/egrowonline.com\/?p=10863"},"modified":"2022-03-16T14:58:49","modified_gmt":"2022-03-16T14:58:49","slug":"xrp-lawsuit-update-things-arent-finished-between-ripple-and-the-sec-with-new-court-rulings","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=10863","title":{"rendered":"XRP Lawsuit Update: Things Aren’t Finished Between Ripple and the SEC with New Court Rulings"},"content":{"rendered":"


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Ripple<\/strong> (XRP-USD<\/u><\/strong><\/a><\/span>) holders may have started the week celebrating, but it doesn\u2019t look like the company\u2019s out of the woods yet. Rather, Ripple is still deeply embroiled in the lawsuit levied against it by the U.S. Securities & Exchange Commission (SEC). Sure, an earlier XRP lawsuit update may have indicated the end is in sight. However, reports now say Ripple is still facing adversity in court.<\/p>\n

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Source: Shutterstock<\/p>\n<\/div>\n

Ripple is now well over a year into its legal battle with the SEC. Beginning in late 2020, the government entity claims Ripple conducted an illegal security offering<\/a> worth $1.3 billion. But the sale of XRP coins is purported by Ripple to have not been a security offering<\/a> or initial coin offering (ICO) at all.<\/p>\n

This legal battle is sure to lay the grounds for further government litigation over crypto projects. The crux of the SEC\u2019s argument is that XRP is a security rather than a currency. Of course, Ripple denies these claims, asserting that XRP is a currency with a function. The company says its function is to conduct cross-border payments with little-to-no fee to the user.<\/p>\n

Ripple\u2019s argument is further supplemented by the company\u2019s compliance with ISO 20022<\/a>, a new standard language for international banking. The XRP crypto is one of the only digital currencies compliant with the standard. Many investors see this compliance as enough evidence that XRP is a currency rather than an asset.<\/p>\n

Still, the case drags on. Ripple seems confident it can come to a close this year. Last week, documents surfaced suggesting that the trial will end between August and November<\/a> of 2022, barring a settlement. However, news today suggests a closure will not be so soon.<\/p>\n

XRP Lawsuit Update: Judge Denies Motions, Creates Setbacks for Ripple<\/h3>\n

Investors began celebrating an end to the trial over the past weekend, thanks in large part to news that a judge was denying a crucial SEC motion<\/a>. However, a recent XRP lawsuit update suggests Ripple isn\u2019t quite as far ahead as investors had thought.<\/p>\n

Today, news is showing that both the SEC and<\/em> Ripple have been denied important motions<\/a>. The first half of this news \u2014 that the SEC had been denied a motion to strike Ripple\u2019s fair notice defense \u2014 surfaced on Saturday. For context, Ripple\u2019s defense posits that the SEC did not provide fair notice that its coin distribution was illegal. In April of last year, the SEC filed to strike this defense. When a presiding judge struck down this filing, it meant the case was progressing into a trial stage.<\/p>\n

That had XRP crypto fans lofting the news as a huge deal. However, what these investors were not aware of was the judge also struck down a Ripple filing. The company filed its own motion in March of last year to dismiss the case. Still, CEO Brad Garlinghouse says that even if the lawsuit claims were true, they wouldn\u2019t amount to a winnable case for the SEC.<\/p>\n

It\u2019s easy to understand why, with only one half of this news, XRP fans were ready to celebrate. If the judge were only striking down the SEC\u2019s motion, it would seem likely for Ripple to win. However, with the full picture in view, it\u2019s apparent that the case is only just beginning.<\/p>\n

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On the date of publication, Brenden Rearick\u00a0<\/i><\/span>did not hold (either directly or indirectly) any positions in the securities mentioned in this article.\u00a0<\/i>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com\u00a0Publishing Guidelines<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n


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Ripple (XRP-USD) holders may have started the week celebrating, but it doesn\u2019t look like the company\u2019s out of the woods yet. Rather, Ripple is still deeply embroiled in the lawsuit levied against it by the U.S. Securities & Exchange Commission (SEC). Sure, an earlier XRP lawsuit update may have indicated the end is in sight. […]<\/p>\n","protected":false},"author":1,"featured_media":10864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[1075,3565,2682,59,265,6321,605,886,58],"class_list":["post-10863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-arent","tag-court","tag-finished","tag-lawsuit","tag-ripple","tag-rulings","tag-sec","tag-update","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/xrp-5.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10863"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10863\/revisions"}],"predecessor-version":[{"id":10865,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10863\/revisions\/10865"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/10864"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10863"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}