XRP Ruling: Judge Analisa Torres's 2 Options If SEC Wins Appeal

Also Read: XRP Copycat Jumps 520%, Innovative Project or a Red Flag?

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XRP Token Holders, Not Investors

Recently, US SEC chair Gary Gensler evaded a question on the Ripple lawsuit ruling citing the agency takes a collective decision with all the other commissioners. Interestingly, he repeated his warning to ‘investors’ about the Crypto Market, to which American businessman Mark Cuban took objection. He said,

“(Gary Gensler) is in the habit of exclusively calling token holders investors. He knows that is incorrect, but it serves his purpose.”

John Deaton: The Howey Factors

Reacting to Gensler’s comment on the question of the SEC going for appeal, John Deaton, the attorney representing token holders in the lawsuit, said the judge will have a cushion of the first two Howey tests satisfying the ruling that the programmatic sale of XRP tokens to retail traders is not a securities transaction.

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“If the SEC won on appeal regarding the 3rd factor, the case gets Remanded for Judge Torres to apply the other two factors, where she likely finds that those factors are lacking – giving us the same practical result we have today.”

As per the Howey test, transactions are deemed to be investment contracts if one invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.

Also Read: Litecoin (LTC) Halving is Days Away, How High Can Price Rise?

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