Ripple keeps gaining fresh backers in the current court dispute. One of the most recent is Paradigm, a VC company that promotes Web3 developments and cryptocurrency ventures.

Paradigm has asked to submit an amicus brief because it believes that the outcome of the Ripple dispute might have a major influence on the growth and functioning of the cryptocurrency and Web3 industries.

The main justification offered by Paradigm is that the Howey test was used improperly.

It is emphasized in the document that no federal appellate court has determined that an asset that is the subject of an investment contract transaction is a security in and of itself or that a subsequent transfer of that asset would be a securities transaction. The SEC hasn’t cited a similar case either.

The company claims it is concerned that a decision that casually adopts the SEC’s preferred terminology could have important and unexpected repercussions for Paradigm and other businesses that want to use the new technology in a way that could benefit users.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Website: coincu.com

Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Paradigm Files Amicus Brief Supporting Ripple Against SEC

Ripple keeps gaining fresh backers in the current court dispute. One of the most recent is Paradigm, a VC company that promotes Web3 developments and cryptocurrency ventures.

Paradigm has asked to submit an amicus brief because it believes that the outcome of the Ripple dispute might have a major influence on the growth and functioning of the cryptocurrency and Web3 industries.

The main justification offered by Paradigm is that the Howey test was used improperly.

It is emphasized in the document that no federal appellate court has determined that an asset that is the subject of an investment contract transaction is a security in and of itself or that a subsequent transfer of that asset would be a securities transaction. The SEC hasn’t cited a similar case either.

The company claims it is concerned that a decision that casually adopts the SEC’s preferred terminology could have important and unexpected repercussions for Paradigm and other businesses that want to use the new technology in a way that could benefit users.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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