XRP Lawyer Predicts What’s Next in XRP Lawsuit
Bill Morgan, a pro-XRP lawyer, provided detailed information about the ongoing legal battle between ripple Labs and the US Securities and Exchange Commission (SEC) in a recent post on the X forum. He also responded to concerns about the impact of the recent Coinbase hearing on the case.
XRP Lawyer Provides Information About Ripple and SEC Case
Morgan assured X users that the latest decision between Coinbase and the SEC will have a “neutral” impact on the Ripple case. “This was a default decision regarding secondary market sales of several cryptocurrencies that did not include XRP,” he said.
In addition, Morgan detailed the nature of default judgments, emphasizing their limited precedential value due to the lack of controversial arguments and evidence. “Default judgments are judgments that are given if the other party fails to defend… The precedent is low.”
When asked about Judge Torres’ ruling on the security status of XRP, Morgan referred users to pages 14 and 15 of the summary judgment, which detailed the section titled “XRP Token.” He also emphasized: “This is clear logic and I cannot contribute to the clarity that the judge gave us.”
Regarding potential objections and their implications, Morgan noted that the SEC has accepted XRP’s classification as a security. He also noted: “Even if the appeal is fully successful, this will only affect Ripple’s programmatic sales and not other secondary market sales.”
Throughout the exchange, Morgan engaged with users, responded to criticism, and provided detailed explanations to clarify complex legal nuances. As the Ripple and SEC case unfolds, Bill Morgan continues to offer insightful analysis and predictions on its future course.
Also Read: Coinbase Vs SEC: CLO Paul Grewal Rejects Secondary Crypto Sale Decision
Latest Decision of Coinbase CLO
In the midst of the legal battle between Coinbase and the SEC, Coinbase’s CLO Paul Grewal weighed in on the latest default decision. He stated: “The whole point is that the defendant does not show up… So the judge literally has the SEC on one side and no one on the other side.”
He also expressed concern about the imbalance in such trials, where the absence of the accused leads to one-sided decisions. Additionally, Coinbase CLO underlined that the judge relied solely on SEC arguments, stating: “The judge literally has the SEC on one side and no one on the other side.”
He also noted that the judge did not consider opposing points of view, such as amicus briefs or conflicting documents. Grewal argued that default judgments have no value as precedent or persuasion in future cases. “These have no value as precedent or persuasion,” he said.
Also Read: XRP Whales Mined 43 Million Tokens Amid SEC Deadline Extension, What’s Next?
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