2024

<p>The post <a href="https://coinpedia.org/news/pro-xrp-lawyer-bill-morgan-questions-judges-ruling-on-odl-sales/">Pro-XRP Lawyer Bill Morgan Questions Judge’s Ruling on ODL Sales</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Pro-XRP lawyer Bill Morgan recently expressed concerns about Judge Torres’s handling of <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-ends-xrp-price-surges-17-following-favorable-court-ruling/">Ripple’s case against the SEC</a>. Morgan believes the judge’s decisions on XRP sales, especially those related to On-Demand Liquidity (ODL), lack clarity and proper analysis.</p> 
<h2 class="wp-block-heading" id="h-odl-sales-a-cloud-of-uncertainty">ODL Sales: A Cloud of Uncertainty</h2> 
<p>Bill Morgan notes that Judge Analisa Torres has treated ODL sales of XRP similarly to institutional sales but hasn’t clearly explained why. The judge applied the Howey test to label these sales as investment contracts without providing detailed reasons for her conclusions.&nbsp;</p> 
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   <p lang="en" dir="ltr">This is a finding Judge Torres seems to have made merely by inference from the fact that there are continuing ODL sales that use XRP. In the summary judgment decision she just erroneously lumped in ODL sales with other sales of XRP to institutions. There is not in her two major… <a href="https://t.co/iyn8D2cS5d">https://t.co/iyn8D2cS5d</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1821509881293393933?ref_src=twsrc%5Etfw">August 8, 2024</a>
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<p>Morgan further argues that Torres’s previous judgments lacked clarity on what features make ODL sales investment contracts, suggesting that critical aspects such as the brief holding period and non-speculative use of <a href="https://coinpedia.org/news/pro-xrp-lawyer-pushes-elon-musk-to-add-xrp-to-x-payments-after-ripples-big-win/">XRP</a> were overlooked.</p> 
<p>This lack of clarity raises doubts about whether <a href="https://coinpedia.org/news/ripples-court-win-how-recent-ruling-shields-xrp-institutional-sales-amid-125-mln-fine/">ODL sales</a> truly meet the criteria for investment contracts. Morgan believes the judge’s recent comments hint that she might be reconsidering her previous decisions, possibly acknowledging errors in her past judgments.</p> 
<h2 class="wp-block-heading" id="h-unclear-criteria-what-makes-odl-sales-investment-contracts"><strong>Unclear Criteria: What Makes ODL Sales Investment Contracts?</strong></h2> 
<p>In her recent judgment, Judge Torres stated that she had only considered “some” features of the ODL sales and acknowledged that the absence of certain features does not necessarily exempt them from being classified as investment contracts.&nbsp;</p> 
<p>Despite this, she did not clarify what aspects of ODL sales might make them investment contracts. Morgan believes this statement indicates a possible error in the judge’s earlier decisions.</p> 
<h2 class="wp-block-heading" id="h-ripple-s-future-a-gray-area">Ripple’s Future: A Gray Area </h2> 
<p>Morgan’s critique follows a tweet from Mr. Huber, who speculated that the court’s findings could imply Ripple might violate the law in the future. Huber’s comment highlighted that the court’s decision leaves room for potential future violations, which could influence how regulators approach Ripple going forward.</p>

Pro-XRP Lawyer Bill Morgan Questions Judge’s Ruling on ODL Sales

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