The ongoing <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">legal saga</a> between Ripple Labs and the US Securities and Exchange Commission (SEC) has reached a crucial stage. Both parties in the case are making efforts in their arguments to gain a ruling in their favor. With the commission’s final reply in the lawsuit remedies stage, the crypto community is now looking over Ripple to bag another win. What is the SEC arguing? 
Crypto legal expert, Bill Morgan, stated that the SEC reply is quite interesting in some respects on the injunction issue. He added that the commission’s response focuses on the question of financial harm and whether it justifies disgorgement.
He added that this argument requires some financial harm to institutional buyers of XRP from Ripple. However, the SEC reply brief does not make any new additions to the argument about financial harm.&nbsp;
As per the expert, the issue is whether financial harm extends to a situation where an institutional buyer makes a profit but could have sought more favorable terms and earned a larger profit.&nbsp;
It is important to note that the SEC seeks a very broad definition of pecuniary harm and argues that Ripple too narrowly interprets financial harm.
Morgan mentioned that the commission’s argument is looking more compelling in Reply than it did initially. The watchdog points out that Ripple’s insistence on redacting the discounts shows the importance it would have to institutional buyers.&nbsp;
He later highlighted the issue of permanent injunction or limiting/restricting the permanent injunction. Here, the commission is arguing that an injunction should be given because Ripple’s business is almost entirely the sale of XRP to institutions (ODL customers). The breaches may be anticipated because selling XRP is Ripple’s sole source of income. Wassup with ODL matter? 
Crypto legal experts brought up that in the respect of post complaint ODL sales, the SEC points out that if Ripple was following the court’s order it would undertake programmatic sales which are not investment contracts. This includes not engaging in sales to ODL users which are investment contracts.
The commission is also arguing that the defendant is trying to litigate the summary judgment issue on ODL sales. It suggests that this is a matter that Ripple can appeal not relitigate.
In the last of its argument, the commission notes that the ODL contracts were before the court in the summary judgment motions. It did not contain restrictions in relation to lock-up periods, resale, and discounts, and yet the judge found that they were investment contracts.

Will SEC’s last move seal the deal in Ripple case? Expert reveals

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