- Ripple lawyer Bill Morgan states the outcome if the court only finds Ripple liable for XRP sales up to 2015.
- Additionally, if the court doesn’t make an order to stop future sales to ODL customers, it will a good result for Ripple.
- Morgan also stated the possibility of the SEC not obtaining a permanent injunction on future Ripple sales.
Ripple lawyer Bill Morgan recently tweeted a scenario where the situation could end up being good for Ripple. Morgan stated that if the court only finds Ripple liable for the XRP sales up to 2015 and does not make an order to stop future sales to ODL customers, it would be a good result for Ripple.
The thread and comments relate to a type of remedy (disgorgement) if Ripple loses on liability. The gist of exchange with the former SEC attorney is that the SEC may obtain no disgorgement if the Judge only finds Ripple XRP sales up to 2015 were investment contracts /1 https://t.co/PIAhdcbLpr— bill morgan (@Belisarius2020) April 24, 2023
Morgan also covered the possibility that the SEC may not obtain a permanent injunction on future Ripple XRP sales. This is due to the fact that the current XRP sales are to ODL customers who are not investors and also don’t expect profits from XRP sales.
The gist of exchange with the former SEC attorney is that the SEC may obtain no disgorgement if the judge only finds Ripple XRP sales up to 2015 were investment contracts.
In 2020, the SEC accused Ripple, the blockchain company responsible for creating the XRP cryptocurrency token, of conducting an unregistered security offering in 2013. According to the SEC, Ripple raised over $1 billion by selling XRP to investors. However, Ripple has been strongly defending itself in this case, stating that XRP is not a security. The lawsuit has also had a negative effect on the price of XRP.
The price of XRP went on a downward spiral after the lawsuit, which hindered its growth. XRP is 87% down from its all-time high and is trading at $0.4653 at press time. However, a positive outcome to the ongoing lawsuit could see the price of XRP shoot up.
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