Pro-XRP lawyer Bill Morgan said in his recent conversation on the X forum, Ripple He shared detailed information about the ongoing legal fight between Labs and the SEC. He also addressed concerns about the impact of the recent Coinbase hearing on the case.
XRP Lawyer Provided Information About Ripple Vs SEC Case
Morgan assured X users that the latest Coinbase vs SEC decision will have a “neutral” impact on the Ripple case. Morgan: “This is XRPIt was a default judgment regarding secondary market sales of various cryptocurrencies that did not include.” he stated.
In addition, Morgan elaborated on the nature of default judgments, highlighting their limited precedent value due to the lack of controversial arguments and evidence. “Default decisions are decisions made when the other party does not defend… The precedent value is low.” he stated.
When asked about Judge Torres’ decision regarding the security status of XRP, Morgan referred users to pages 14 and 15 of the summary judgment, which are detailed in the section titled “XRP Token.” He further stated, “This is clear reasoning and I cannot add to the clarity the Judge has given us.”
Regarding potential appeals and their impact, Morgan noted that the SEC has acknowledged that XRP is not a security. He also stated, “Even if the appeal is fully successful, this will only affect Ripple’s programmatic sales… and will not include other secondary market sales.”
Throughout the exchange, Morgan addressed criticism by interacting with users. He provided detailed explanations to clarify complex legal nuances. As the Ripple vs. SEC case progresses, Bill Morgan continues to provide insightful analysis and predictions regarding the future course of the case.
Coinbase CLO’s Evaluation of the Latest Decision
Amid the legal battle between Coinbase and the SEC, Coinbase’s CLO Paul Grewal weighed in on the latest default decision. “The whole point is that the defendant has not appeared… So the judge literally has the SEC on one side and no one on the other side.” he stated.
He also expressed concern about the imbalance in such cases, where the absence of the defendant leads to unilateral decisions. Coinbase CLO also emphasized 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 any opposing viewpoints, such as amicus briefs or conflicting documents. Grewal argued that the default judgments have no precedential or persuasive value in future cases. “It has no value as a precedent or persuasion,” Grewal said.
