2024

<p>The post <a href="https://coinpedia.org/news/ripples-defender-bill-morgan-takes-on-sec-explains-odl-transactions/" rel="noopener noreferrer nofollow">Ripple’s Defender Bill Morgan Takes on SEC, Explains ODL Transactions</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The Ripple vs. SEC legal showdown is getting more interesting, as pro-XRP lawyer Bill Morgan steps into the ring as a key defender, aiming to demystify the intricacies surrounding Ripple’s On-Demand Liquidity (ODL) transactions. Meanwhile, he has engaged in debate arguing that ODL) transactions are not the same as investment contracts.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bill-morgan-about-odl-transactions">Bill Morgan About ODL Transactions</h2>
<p>In a <a href="https://twitter.com/Belisarius2020/status/1755492801872355441" rel="noopener noreferrer nofollow">recent discussion</a> on the X platform, Bill Morgan, a vocal proponent of XRP, emphasized that Ripple’s ODL transactions should not be considered investment contracts. He clarified that ODL customers are not investors but individuals seeking cost-effective money transfers through the acquisition of XRP.&nbsp;</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="550" data-dnt="true">
   <p lang="en" dir="ltr">Because it was common ground (an undisputed fact) that the ODL transaction took a few seconds to complete so the ODL customer is not an investor. He is buying the XRP to swap it for fiat to complete a low cost money transfer. It wants to reduce costs on the transfer not hold XRP… <a href="https://t.co/Dg81HD5au0" rel="noopener noreferrer nofollow">https://t.co/Dg81HD5au0</a> <a href="https://t.co/EUe3ZpJzW7" rel="noopener noreferrer nofollow">pic.twitter.com/EUe3ZpJzW7</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1755492801872355441?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Morgan highlighted the crucial difference between investment motives and transactional utility, aligning this perspective with Ripple’s stance. Notably, he contested Judge Torres’ ruling on institutional sales, asserting its inapplicability to ODL transactions.</p>
<p>Morgan further simplifies the narrative, <a href="https://twitter.com/Belisarius2020/status/1755483058302845341" rel="noopener noreferrer nofollow">highlighting the difference</a> between buying XRP for practical reasons, like sending money and investing. Meanwhile, he disagrees with a recent ruling on institutional sales, asserting its inapplicability to ODL transactions.</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="550" data-dnt="true">
   <p lang="en" dir="ltr">What issue do you think I have not addressed in the many posts I have done on the case and ODL. So many posts even the <a href="https://twitter.com/hashtag/XRPcommunity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPcommunity</a> has probably had enough of hearing my views about why ODL sales are not investment contracts, a view I might add that, to borrow a recent turn of… <a href="https://t.co/41RgtfeFRg" rel="noopener noreferrer nofollow">https://t.co/41RgtfeFRg</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1755483058302845341?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-legal-focus-odl-sales">Legal Focus ODL Sales</h2>
<p>With the legal spotlight now zooming on Ripple’s ODL sales, the SEC’s motion to compel Ripple to disclose financial details and post-complaint contracts takes center stage. The U.S. District Court for the Southern District of New York’s court <a href="https://coinpedia.org/news/ripple-vs-sec-sec-scores-victory-as-judge-orders-ripple-to-disclose-financial-information/" rel="noopener noreferrer nofollow">gave the green light</a> for this investigation, showing a closer look at Ripple’s money matters.</p>
<p>Magistrate Court Judge Sarah Netburn is asking Ripple to share financial records from 2022 to 2023. The <a href="https://coinpedia.org/news/big-ripple-move-they-sold-120-million-xrp-amid-sec-legal-victory/" rel="noopener noreferrer nofollow">court also agreed</a> to the SEC’s request for details about contracts after the complaint and info about the money made from these sales.</p>
<h2 class="wp-block-heading" id="h-what-s-next-for-ripple-s-defense">What’s Next for Ripple’s Defense?</h2>
<p>As Ripple gears up for the next legal phase, Bill Morgan’s insights give us a peek into Ripple’s strategy to defend itself. This legal drama not only affects Ripple but could change how all digital assets are treated in the future.</p>
<p>The outcome could set important rules for how digital assets are seen and regulated, not just in the U.S. but around the world.</p>

Ripple’s Defender Bill Morgan Takes on SEC, Explains ODL Transactions

Table of Contents

CoinPedia News

Other articles published on Feb 8, 2024

BNB Beacon Chain Shutdown: Urgent Migration Notice for Users

Montenegro Court of Appeal revokes Do Kwon’s extradition again

Binance reveals PIXEL staking rewards as launch date approaches

Shiba Inu: CoinGecko Now Tracks Top 24 Assets on Shibarium

Ripple (XRP): The Potential Path to Becoming a Millionaire with a $1000 Investment

Matrixport Said “There Might Be an Uptrend in Bitcoin in the Coming Days”, Gave a Forecast: “Bewa...

Join our free newsletter for daily crypto updates!