The current status of XRP can be determined before the end of the trial: opinion
- Ripple can submit a motion regarding the current classification of XRP at any time before the completion of the study phase.
- According to lawyer Jeremy Hogan, Ripple plans to do just that, so that it can do it as quickly as possible. save your deposited XRP and therefore your business.
In a new video, attorney Jeremy Hogan has found "new hope" for the XRP community . This is "a very important judicial strategy that Ripple can implement, and I call it a new hope," the lawyer said.
The SEC has jurisdiction over controls trading, buying, and selling, but does not hold securities in the United States. Consequently, a security falls under the SEC's jurisdiction only if it was a security at the time of sale. Each sale should be considered individually, as circumstances may change.
In at the time of the sale, Ripple must have announced the expectation of an increase in the value of XRP as a result of its activities. So the key is whether Ripple was the main driver of the XRP price at this point in time, and if so, when. Hogan stated:
The analysis is changing rapidly as asset use cases in fact, they line up so that the XRP that Ripple sold in 2014 could have been a sale of a security, but the XRP Ripple sold in 2018 might not have been a sale of a security. This depends on whether Ripple was the driver of XRP's value at the time of the sale.
Hogan also referred to SEC Commissioner Hester pierce's statement in video. She recently emphasized, citing the Howey test and the underlying case from 1946, that the problem was the method of sale. Hogan concluded:
Thus, an XRP token cannot inherently be a security. A sale or offer makes a sale of a security.
Estimated value ripple strategy
In this regard, Hogan again analyzed the previous correspondence between the SEC and Ripple, finding evidence that this may be exactly the strategy of Ripple. At the end of the pre-trial letter, Ripple stated: "Accordingly, current sales of Ripple XRP cannot be an offer of valuable assets. papers".
Moreover, in its latest email, Ripple proved that "there is no likelihood of future breaches." Hogan States in this regard::
Ripple addresses current and future sales of its deposited XRP when it asks a judge for a faster termination and adds an affirmative protection, speaking of any future sales. The reason is that Ripple is going to first make a summary judgment only on their current and future XRP sales, not past sales, and they want to do it quickly.
Under U.S. law, a motion for summary judgment is required to apply for the following conditions: legal proceedings, even partial ones, can be filed at any time within 30 days after the completion of the study phase. This means that in the case of Ripple, they can apply at any time before September.
Ripple is going to file a partial summary judgment regarding the current and future XRP supply. And why is this so important? Since the arguments in favor of Ripple will be significantly higher in the summer of 2021 than, say, in 2014 or 2015. And by moving on to a partial summary judgment on his third affirmative defense and victory, you'll all get the clarity you're looking for. And the rest of the case will be clarified later. But here we are talking about money.
According to Hogan, the securities and exchange Commission is currently looking weaker. Thus, the position of the securities and exchange Commission will be that all sales of Ripple, including the escrow account, should be considered as a major commercial offer., covering the period from 2013 to the present. In this regard, the SEC will present The kik Interactive case, in which two separate sales were considered as one "big whole". The SEC will not "give up without a fight".
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