XRP News: U.S. District Court is yet to deliver a much anticipated Summary Judgment in the crucial Securities and Exchange Commission (SEC) Vs Ripple lawsuit. As the judge moves closer to concluding the case, XRP relisting on crypto exchanges has become a major concern among the XRP holders.
Also Read: Why LBRY Latest Court Filing Is Critical For XRP Case Judgement?
XRP Relisting Coming Soon?
The “Secondary Market Sales” of XRP have been a majorly discussed issue among crypto leaders and experts. However, the court is yet to address this matter in the XRP lawsuit.
Coingape reported that US SEC on record admitted that the LBRY Credits (LBC) tokens’ secondary market sales don’t constitute a security. However, the commission’s this settlement in the LBRY lawsuit would surely be discussed among the Ripple legal team.
Attorney Jeremy Hogan stated that he is confident Ripple’s XRP will be relisted on crypto exchanges once the judge decides whether the token is inherently a security. The SEC’s complaint in the lawsuit claims that XRP itself is a security. However, it does not ask anything to discuss the nature of the asset. Read More XRP News Here…
What If Court Refuse To Admit The Issue?
Hogan mentioned that there is a very high chance that the court might not take up the particular issue as the commission didn’t raise it explicitly. However, both parties can argue over the secondary sales by adding an omission.
He highlighted that Ripple and US SEC can strike an agreement to include this in the hearings. However, the judge could approve the defendants’ assertion in the proposed Final Judgment.
Meanwhile, the district court could decide to pick up concerns filed by amicus curiae related to secondary sales. Almost similar scenario emerged in the US SEC Vs LBRY lawsuit where the judge agreed to address the issue.
However, in the latest filings, LBRY stated that the commission has failed to provide clarity even after striking a settlement over the issue.
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