Why Pro-Ripple Lawyer Says XRP Can’t Be Classed As A Security Even If It Was Sold As One

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Why Pro-Ripple Lawyer Says XRP Can’t Be Classed As A Security Even If It Was Sold As One

Американскиот обвинител Џон Дитон детално објасни зошто криптовалутата XRP не може да се класифицира како обезбедување even if blockchain payments company Ripple sold it to the public as an investment contract.

„XRP останува дигитален код“: Џон Дитон

The debate over whether XRP should be deemed a security rages, something that is the crux of the legal battle between Ripple и Комисијата за хартии од вредност на САД (SEC).

In a detailed Twitter thread on Friday, CryptoLaw founder John E Deaton asserted that XRP “remains a digital code” even if Ripple sold it as an investment contract (read: security) in the past or is still selling it now.

Deaton noted that just because someone used bitcoin (BTC) as a security, it didn’t turn it into a security. Similarly, in the LBRY Credits (LBC) case, the judge ruled that LBRY sold LBC as an investment contract when it made direct sales. In the lawyer’s view, LBC remains a software code and nothing else. The SEC even admitted on record that the sale of LBC tokens in the secondary market did not constitute a security. This means LBC itself does not qualify as a security. If it did, the court’s ruling would apply to all of its sales.

Истото важи и за Ripple’s XRP. However, Deaton notes that the commission has previously implied that the XRP token itself is a security. “This novel and dangerous embodiment theory is how the SEC is attempting to expand its jurisdictional reach into secondary market transactions. The theory stretches Howey beyond recognition,” he added.

Сепак, основното средство никогаш не е обезбедувањето во случај на инвестициски договор, а романот Хауи тест бара анализа на Хауи во моментот на секоја понуда или продажба. Ова е причината зошто Дитон е доста убеден дека окружниот судија Аналиса Торес ќе го отфрли предлогот за резиме на пресудата на ДИК во тужбата за XRP.

Bitcoin was Once Sold As A Security

Deaton also cited the crypto market lodestar, bitcoin, as he explored the XRP security issue. He notes that the digital asset was once “packaged, marketed, offered and sold” as an investment contract. This is the case for condos, chinchillas, and beavers. Even though they can be sold as investment contracts, that doesn’t mean they turn into securities.

ДИК презеде акција против Ripple in December 2020, contending that it had sold an unregistered security since 2013. Two years later, the high-profile case grossly muddied Ripple’s reputation drags on. A ruling is expected in the first half of 2023 — barring an unlikely settlement. Most XRP loyalists believe Ripple has the upper hand in the case, and they are convinced the company will ultimately prevail.

Како што е кажано, регулаторната јасност за која крипто индустријата долго време бараше најверојатно ќе дојде во форма на решение во ДИК с. Ripple тужба.

Оригинален извор: ZyCrypto