Why Does SEC Say XRP Is A Security? Lawyer Reasons

[Coin_Gabbar]

The long-running legal dispute between the US SEC and Ripple has just seen petitions for summary judgement filed, which has relieved the XRP community.
According to experts, the commission failed to prove that XRP is a security.

Will SEC's claim be unfounded?

However, based on the submitted motions, attorney James Filan has deduced the SEC's arguments. According to him, the commission denies that XRP is a security in and of itself.

It asserts that any purchase of XRP constitutes an investment in a joint venture between Ripple and the other holders of its native tokens. The SEC claims that an investment in the common enterprise is made regardless of whether there is horizontal or vertical commonality.

With this defence, the SEC contends that even though XRP might not technically be a security. However, the only practical way to offer or trade XRP is as a security.

The SEC is attempting to obtain a judgement over the included secondary sales, according to Filan.

Watchdog missing critical motion-based events
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