New Development in Ripple (XRP) Case! Brad Garlinghouse's Lawyers Attack!
#Ripple lawyers, who want to strengthen their hand in the case, insist on requesting data from global exchanges.
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#Brad #Garlinghouse's lawyers took the important step of rebutting the #SEC's claims. Ripple is working with all its might because it sees this case as a struggle for survival. The biggest loser in the case has been the Ripple (XRP) investor for months. XRP, whose price was suppressed, missed many uptrends, including the last bull, due to this pressure.
💥Ripple (XRP) Case💥
The lawsuit that XRP investors are following step by step has the potential to have a serious impact on the price. The outcome of the lawsuit in favor of Ripple will have a very positive effect on the XRP price. The SEC, on the other hand, is working to make this case work in their favor and set a precedent for other cases. SEC officials, who have repeatedly stated that they work so hard to protect investors, use their most competent staff in this field.
According to court documents filed today in the Southern District of New York, Garlinghouse's legal team has requested certain documents be requested from Binance Holdings Limited. Ripple's lawyers, who have asked the court to write a letter to the Cayman Island Central Authority, are hoping to strengthen their defense in light of future information.
As you know, the SEC argues that 357 million XRP Tokens have been sold all over the world, and this is done without the necessary permissions, in a way that makes investors suffer. Ripple lawyers deny this accusation. Attorneys insist that sales made “abroad” are not within the SEC's jurisdiction, citing Section Five of the Securities Act of 1933. Even in public data on global stock markets, it is known that these sales are overwhelmingly made outside the USA. If Binance and other global exchanges share documents, the SEC may face a difficult time in court.
💥Litigation Continues💥
The "unregistered sale of securities" lawsuit filed in December 2020 against Garlinghouse and co-founder Chris Larsen has ramified enough. The demands of the SEC and Ripple lawyers further complicate the case. Sometimes the SEC gets stuck in a corner and wants to get the experts in its team to talk, sometimes Ripple lawyers are in a difficult situation.
Ripple lawyers insist that XRP is a crypto asset like BTC and ETH and cannot be considered a security. Recently, in addition to this argument, they have started to say that a significant part of the sales are made abroad in order to strengthen their hands. Of course, confirmation of this by the court will strengthen the hand of the Ripple side. Although the discovery process of the case has been prolonged, it is aimed to pass this stage by October 15. Of course, the court's request for data from global exchanges such as Binance before this date will positively affect the possibility of Ripple winning the case.