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

AQSh advokati Jon Deaton nima uchun XRP kriptovalyutasini tasniflash mumkin emasligini chuqur tushuntirdi xavfsizlik sifatida even if blockchain payments company Ripple sold it to the public as an investment contract.

"XRP raqamli kod bo'lib qolmoqda": Jon Deaton

The debate over whether XRP should be deemed a security rages, something that is the crux of the legal battle between Ripple va AQSh Qimmatli qog'ozlar va birjalar komissiyasi (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.

Shu uchun ham amal qiladi 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.

Shunga qaramay, investitsiya shartnomasi ishida asosiy aktiv hech qachon kafolat bo'lmaydi va Howey romani testi har bir taklif yoki sotish vaqtida Howey tahlilini talab qiladi. Shuning uchun Deaton okrug sudyasi Analisa Torres SECning XRP da'vosi bo'yicha xulosa chiqarish taklifini rad etishiga juda ishonadi.

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.

SEC harakatni olib qarshi 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.

Aytish joizki, kripto sanoati uzoq vaqtdan beri talab qilib kelayotgan me'yoriy ravshanlik, ehtimol, bu shaklda paydo bo'ladi. qarorning SECda v. Ripple sud jarayoni.

Asl manba: ZyCrypto