NEAR Protocol

United

Axie Infinity

OMG Network

<div class="finbold">
 <p class="paragraph">With the <a rel="noopener noreferrer nofollow" title="lawsuit" href="https://thebittimes.com/tag/lawsuit.html">lawsuit</a> against cryptocurrency trading platform Kraken becoming the newest instance of the United States Securities and Exchange Commission (SEC) exercising its regulatory enforcement in the cryptocurrency industry, a legal <a rel="noopener noreferrer nofollow" title="expert" href="https://thebittimes.com/tag/expert.html">expert</a> has observed a curious detail – XRP was not there.</p>
 <div></div>
 <p class="paragraph">Specifically, Jeremy Hogan, a lawyer who has kept a close eye on the SEC’s case against blockchain company Ripple, accused of illegally selling the XRP token as unregistered <a rel="noopener noreferrer nofollow" title="securities" href="https://thebittimes.com/tag/securities.html">securities</a>, noted that XRP was missing from the list of alleged <a rel="noopener noreferrer nofollow" title="securities" href="https://thebittimes.com/tag/securities.html">securities</a> in the <a rel="noopener noreferrer nofollow" title="lawsuit" href="https://thebittimes.com/tag/lawsuit.html">lawsuit</a> text he shared in an X post on November 21.</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">Guess which crypto is NOT included on the list of alleged <a rel="noopener noreferrer nofollow" title="securities" href="https://thebittimes.com/tag/securities.html">securities</a>? pic.twitter.com/2qWcDwNt9A</p>— Jeremy Hogan (@attorneyjeremy1) November 20, 2023
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Indeed, the listed cryptocurrencies included Cardano (ADA), Axie Infinity (AXS), Algorand (ALGO), Cosmos Hub (ATOM), Chiliz (CHZ), COTI (COTI), Dash (DASH), Filecoin (FIL), Flow (FLOW), Internet Computer (ICP), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), OMG Network (OMG), The Sandbox (SAND), and Solana (SOL).&nbsp;</p>
 <p class="paragraph">As a matter of fact, the SEC stated that these crypto assets, in addition to alleging that Kraken offered them as “crypto assets securities,” were also the subject of “one or more” of its regulatory actions “against other unregistered intermediaries,” including crypto exchanges Bittrex, Binance, and Coinbase.</p>
 <h2 class="wp-block-heading" id="h-why-xrp-is-not-on-the-list">Why XRP is not on the list</h2>
 <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/2023/11/23/7c3b79f541b5efc59d44baab914ac703.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-would-trade-at-this-price-if-it-hits-its-all-time-high-market-cap">XRP would trade at this price if it hits its all-time high market cap</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/2023/11/23/1008dd5639ad0f92c9303e98c84f2065.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-gears-up-for-a-massive-move-to-this-price">XRP gears up for a massive move to this price</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/2023/11/24/9d8f369359b1597885bcae807251dadf.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="sec-commissioner-no-reason-to-stand-in-the-way-of-spot-bitcoin-etf">SEC Commissioner: No reason to stand in the way of spot Bitcoin ETF</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/2023/11/24/573e7f2320255b8d1e1edb2b271bcb8a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="here-s-why-the-sec-sued-kraken">Here's why the SEC sued Kraken</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/2023/11/24/4a7301e7584d8dced2e11c20a98f2daf.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-s-chief-legal-officer-sec-boss-has-prejudged-crypto">Ripple’s chief legal officer: SEC boss has ‘prejudged crypto’</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">As a reminder, Federal Judge Analisa Torres ruled on July 13, 2023, that Ripple’s XRP sales to retail customers did not constitute <a rel="noopener noreferrer nofollow" title="securities" href="https://thebittimes.com/tag/securities.html">securities</a> sales, which secured a partial victory for the blockchain firm that now awaits settlement talks regarding the fines for its sales to institutional clients, as Finbold reported.</p>
 <p class="paragraph">Notably, the SEC is demanding that Ripple pay out the damages in the amount that legal expert John E. Deaton referred to as the $770 million “worth of flesh,” which includes the sales of XRP to institutional customers both in the US and overseas, and which the blockchain company is trying to reduce.</p>
 <p class="paragraph">Meanwhile, XRP was at press time changing hands at the price of $0.6248, gaining 1.08% in the last 24 hours, as well as adding 1.34% to its value in the previous seven days and advancing 13.81% across the past month, as per the most recent information retrieved on November 24.</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/legal-expert-xrp-not-on-list-of-securities-in-sec-s-kraken-lawsuit-tbt71473.html">https://thebittimes.com/legal-expert-xrp-not-on-list-of-securities-in-sec-s-kraken-lawsuit-tbt71473.html</a></p>

Legal expert: XRP not on list of securities in SEC’s Kraken lawsuit

Table of Contents

TheBitTimes

Other articles published on Nov 24, 2023

KyberSwap Proposes 10% Bounty Following $50 Mln Hack

Changpeng Zhao’s X Account Restriction: A Glimpse into Social Media Algorithm Challenges

CoinDCX Announces Landmark Partnership With the Sandbox, in the BharatBox Destination

Valour XRP ETP Set To Begin Trading, Can Institutional Inflows Drive Price To $10?

BEFE Token Surges by 52% in the Past 24 Hours, Continues to Skyrocket in Price

Binance CEO Richard Teng Discloses Comprehensive Plan For Crypto Exchange

Join our free newsletter for daily crypto updates!