Coin

<ul class="wp-block-list news-points">
 <li>SEC’s appeal lacks key evidence, including dismissed expert testimony and investor reliance. </li>
 <li>Court filings show many XRP investors were unaware or unaffected by Ripple’s efforts. </li>
 <li>SEC relies on a hypothetical investor, despite no real evidence of profit expectations. </li>
</ul>  
The SEC is appealing the recent court ruling in the Ripple case, even though it lacks strong evidence to support its claims. The agency is struggling to prove that XRP buyers expected profits based on Ripple’s efforts.  
Judge Torres ruled that Ripple’s actions, including the sale of XRP held in escrow, did not influence price movements enough to establish investor expectations of profit.  
The SEC’s case now depends on convincing the appeals court that these programmatic buyers wanted returns based on Ripple’s operations. The SEC wants to argue this point even though the court rejected their own expert testimony on this matter.  
The expert opinion, which was key to the SEC’s argument, was dismissed due to lack of a reliable methodology. Defendants successfully argued that the expert’s assumptions about what a “reasonable XRP purchaser” believed were speculative …
The post <a href="https://coinedition.com/sec-faces-challenges-in-xrp-appeal-lacks-key-evidence/" rel="noopener noreferrer nofollow">Why the SEC’s Ripple Appeal Might Not Hold Up in Court</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Why the SEC’s Ripple Appeal Might Not Hold Up in Court

Coin Edition

Other articles published on Oct 8, 2024

Ripple Advances Stablecoin Testing with RLUSD Minting and Burning

Will Cryptocurrency Markets Experience a Surge?

Privacy Tokens Face Existential Threat in 2024 Amid Regulatory Pinch

Ripple Vs SEC News: Key Questions Answered on Settlement Odds and Possible SEC Delays

Crypto AI:CON Gathers the Brightest AI and Blockchain Minds in Lisbon

TON Blockchain Reaches 100M Users Amid Ecosystem Growth

Join our free newsletter for daily crypto updates!