Ripple Labs, SEC Filed Motion For Summary Judgment To Settle The Matter Of Law
After both parties filed their separate papers, the SEC v. Ripple Labs court war entered the summary judgment phase. With his most recent Twitter posts, defense attorney James Filan alerted the community about these submissions.
The motion primarily contains several data concerning Ripple and its relationship to XRP. XRP is not utilized as an investment contract, and examples include Brad Garlinghouse and Christian Larsen donating XRP to charity, as well as the early inventors of the XRP Ledger.
The final page of the document piqued the XRP community’s interest the most since Ripple effectively urges the judge to support the defendants. This suggests that Ripple is fed up with the crap that the Securities and Exchange Commission is always pushing.
The SEC argues in its newest motion that the primary question here is whether defendants advertised and sold XRP as “securities.” The SEC anticipates that the Court will issue summary judgment on multiple grounds, as does Ripple Labs. Following the filing, CEO Brad Garlinghouse tweeted:
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