Top Crypto Lawyers Predict Outcome of SEC’s Case Against Ripple and XRP

[Btceth01]

Two prominent lawyers in the crypto space are offering their take on the likely outcome of the U.S. Securities and Exchange Commission’s lawsuit against Ripple.

Stephen Palley, a blockchain and digital currency lawyer at Anderson Kill, and Gabriel Shapiro, a decentralized technology attorney at BSV Law, spoke about the lawsuit on the Unchained Podcast.

The SEC alleges Ripple illegally sold XRP as an unregistered security upon its launch, and maintains that the digital asset is a security to this day. The SEC also filed actions against Brad Garlinghouse, Ripple’s chief executive, and Chris Larsen, the company’s co-founder.

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[Fenix]

I also agree with the opinion of these two lawyers that the executives of Ripple Labs, who are being sued by the SEC, will lose in court. The SEC has well documented violations and they are compelling. Over the years, hundreds of millions of ripple coins have been sold, and investors and holders of this coin were not informed about it. This is already a clear abuse of their powers. Moreover, there was information that these persons agree to negotiations with the SEC. This essentially means that they are willing to admit their guilt and make concessions.