Fox Business correspondent Charles Gasparino reports that securities lawyers Ripple (XRP) He reportedly warned the owners that Judge Torres’ analysis of Ripple could be overturned by the federal courts.
Warning, a popular cryptocurrency It follows a ruling by a federal judge against exchange platform Coinbase. The judge rejected Coinbase’s argument that Torres’ Ripple decision supported the dismissal of the lawsuit between it and the SEC. Instead, the judge credited Rakoff’s analysis of Terraform, which also rejected Torres’ analysis.
Coinbase had a partial gain and a partial loss with the decision made by Judge Katherine Polk Failla in the case filed by the US Securities and Exchange Commission (SEC) against the exchange on Wednesday.
The loss was not unexpected, as even Paul Grewal, Coinbase’s chief legal officer, stated that the team was “prepared” for such a decision.
The SEC’s legal battle with Coinbase officially began last June, when the securities regulator first filed suit. Gary Gensler’s SEC alleges that Coinbase operates as an unregistered exchange, broker and clearing house.
On Wednesday, Judge Katherine Polk Failla largely denied Coinbase’s motion for summary judgment, meaning the legal battle between the two will continue.
*This is not investment advice.
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