United

<div class="finbold">
 <p class="paragraph">After the cryptocurrency community has finally received a conclusion to the long-running battle between Ripple and the United States Securities and Exchange Commission (SEC), not everyone agrees on what it means for the cryptocurrency at its center – XRP.</p>
 <div></div>
 <p class="paragraph">Specifically, X user <em>ScamDaddy</em> shared his belief that “there is no clarity as to what type of asset XRP is, just what it is not” in the ruling, sparking a major debate on the social platform, during which legal expert Bill Morgan rejected the argument that it is not a <a rel="noopener noreferrer nofollow" title="commodity" href="https://thebittimes.com/tag/commodity.html">commodity</a>, in an X post on November 13.</p>
 <p class="paragraph">According to <em>ScamDaddy</em>, when Judge Analisa Torres “deemed Ripple’s sales to institutions as unregistered securities, she said ‘parties did not view the XRP sale as a sale of a <a rel="noopener noreferrer nofollow" title="commodity" href="https://thebittimes.com/tag/commodity.html">commodity</a>,’” and he also shared an excerpt from the court documents that appears to support his argument.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Actually, quite the opposite…. <br><br>When she deemed Ripple's sales to institutions as unregistered securities, she said "parties did not view the XRP sale as a sale of a <a rel="noopener noreferrer nofollow" title="commodity" href="https://thebittimes.com/tag/commodity.html">commodity</a>" pic.twitter.com/Z0lRY4OpfF</p>— ScamDaddy (@ScamDetective6) November 12, 2023
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-judge-s-actual-views">Judge’s actual views</h2>
 <p class="paragraph">However, Morgan pointed out that in the summary judgment motions excerpt, Judge Torres was “expressing her reasons on why that particular category of sales (to institutional buyers) were investment contracts,” as well as that “it was the SEC who defined the categories of sales,” adding that:</p>
 <blockquote class="wp-block-quote">
  <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
   <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
    <div class="max-w-[300px]">
     <div class="py-0 first:pt-0 last:pb-0">
      <div class="flex gap-x-4">
       <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/12/52e0b42013d0c62936beff7a279ed84e.webp" alt class=" w-full rounded-md lazy">
       </div>
       <div>
        Cryptocurrency 
        <h3 class="font-bold leading-6 " id="xrp-needs-to-meet-this-condition-to-resume-a-further-move-up">XRP needs to meet this condition to resume a 'further move up'</h3>
        <div class="sm:flex gap-x-3 mt-2">
        </div>
       </div>
      </div>
     </div>
    </div>
    <div class="max-w-[300px]">
     <div class="py-0 first:pt-0 last:pb-0">
      <div class="flex gap-x-4">
       <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/13/5c6a6383f00338789cde984915316628.webp" alt class=" w-full rounded-md lazy">
       </div>
       <div>
        Cryptocurrency 
        <h3 class="font-bold leading-6 " id="this-is-when-xrp-might-breakout-amid-lingering-sec-uncertainty">This is when XRP might breakout amid lingering SEC uncertainty</h3>
        <div class="sm:flex gap-x-3 mt-2">
        </div>
       </div>
      </div>
     </div>
    </div>
    <div class="max-w-[300px]">
     <div class="py-0 first:pt-0 last:pb-0">
      <div class="flex gap-x-4">
       <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/13/a3aa989c547bb9d53b6128372ccb0e59.webp" alt class=" w-full rounded-md lazy">
       </div>
       <div>
        Cryptocurrency 
        <h3 class="font-bold leading-6 " id="ripple-vs-sec-key-dates-for-damages-talks-proposed">Ripple vs. SEC: Key dates for damages talks proposed</h3>
        <div class="sm:flex gap-x-3 mt-2">
        </div>
       </div>
      </div>
     </div>
    </div>
    <div class="max-w-[300px]">
     <div class="py-0 first:pt-0 last:pb-0">
      <div class="flex gap-x-4">
       <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/13/66b32d3f2eb6fbbcf3368a11b7262d58.webp" alt class=" w-full rounded-md lazy">
       </div>
       <div>
        Cryptocurrency 
        <h3 class="font-bold leading-6 " id="chatgpt-picks-3-low-fee-cryptocurrencies-as-bitcoin-fees-skyrocket">ChatGPT picks 3 low-fee cryptocurrencies as Bitcoin fees skyrocket</h3>
        <div class="sm:flex gap-x-3 mt-2">
        </div>
       </div>
      </div>
     </div>
    </div>
    <div class="max-w-[300px]">
     <div class="py-0 first:pt-0 last:pb-0">
      <div class="flex gap-x-4">
       <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/13/2af5a47204e188a62a230c0af6d22f07.webp" alt class=" w-full rounded-md lazy">
       </div>
       <div>
        Cryptocurrency 
        <h3 class="font-bold leading-6 " id="ripple-ceo-court-victory-against-sec-is-not-enough">Ripple CEO: Court victory against SEC is ‘not enough’</h3>
        <div class="sm:flex gap-x-3 mt-2">
        </div>
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
  <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
   <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
   </div>
  </div>
  <p class="paragraph">“Yet the judge’s view of XRP is not found in her treatment of the three categories of sales. It is found in the two-page section (pages 14-15) in which she analyzed the token itself (within the framework of Howey). That section of the judgment notably is entitled “A. The XRP token.”</p>
 </blockquote>
 <p class="paragraph">As the lawyer further stressed, the Judge separated XRP from the contract, transaction, or selling scheme by “stating that the ‘subject’ (…) is ‘not necessarily a security,’” as well as listing “tangible and intangible assets” in which “the ‘subject of the investment contract was a standalone <a rel="noopener noreferrer nofollow" title="commodity" href="https://thebittimes.com/tag/commodity.html">commodity</a>, which was not itself inherently an investment contract.’”</p>
 <p class="paragraph">Finally, Morgan took one last jab at the critic and Bitcoin (BTC) maxis, accusing them of trying to confuse the wider public regarding Judge Torres’s finding on what the XRP token is and making the matter more complicated, arguing that her ruling has provided the XRP community with a “weapon” against such attempts:</p>
 <figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">In adding this <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of the token the Judge inadvertently gave the XRP community a weapon against Bitcoin maxis who say everything but Bitcoin is a security and an argument against those who want to muddy the waters about the Judge’s finding on what XRP, those like..well you/6</p>— bill morgan (@Belisarius2020) November 13, 2023
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Elsewhere, the XRP token’s price at the time of publication stood at $0.6542. This represents a 2.36% drop on the day and a decline of 5.45% across the previous week while maintaining the 34.88% gain accumulated on its monthly chart, as per the most recent information on November 13.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-v-sec-lawyer-rejects-claims-xrp-is-not-commodity-tbt70065.html">https://thebittimes.com/ripple-v-sec-lawyer-rejects-claims-xrp-is-not-commodity-tbt70065.html</a></p>

Ripple v. SEC: Lawyer rejects claims XRP is not commodity

Table of Contents

TheBitTimes

Other articles published on Nov 13, 2023

Bitget abandons registration plans in Hong Kong

ADA Price Prediction: How High can the Cardano Price Go? Cardano UP to $50 SOON?

Scottish Employers Navigate AI Integration Amidst Skills Shortage

Bitcoin ETF Approaches $500,000 In Under One Week as Investors Look For Direct Exposure to the Bi...

Altcoin Launched After Elon Musk’s Post Turns Out to Be a Scam: Founder Burned 90 Million Tokens ...

Hackers Claim Data Breach of 300,000 Coin Cloud Customers

Join our free newsletter for daily crypto updates!