XRP Lawsuit News: U.S. Securities and Exchange Commission (SEC) filed its reply to the Ripple Defendants’ letters filed in the District Court regarding Supplemental Authority From the Bittner and Voyager cases. It is expected that Ripple’s last filings in the XRP lawsuit might play a vital role in securing the Summary Judgment in its favor.
US SEC Rejects Ripple’s Attempt To Secure Ruling
As per the US SEC’s filing, the agency claims that neither the Bittner v. United States nor the bankruptcy plan confirmation order in Voyager Digital Holdings provides any basis to deny their motion for Summary Judgment. It added that neither of the decisions even include a fair notice defense.
The commission stated that the Supreme Court’s decision in the Bittner case has nothing to do with the fair notice defense the Ripple and Defendants are trying to invoke in order to defeat liability in the civil action. It highlighted that the rule of lenity implied in the Bittner case does not apply to the Civil enforcement context. Read More XRP Lawsuit News Here…
Also Read: Cathie Wood Snaps Up Shares of Block Inc. Amid Hindenburg-Fueled Rout
The US SEC brought up that the lenity mentioned in the Bittner case only applies when a criminal statute contains a ‘grievous ambiguity or uncertainty.’ The commission went on to strengthen its reply by stating that it has on a regular basis provided guidance that crypto asset offerings violate Section 5 if they revolve around the offer and sale of an investment contract.
Recommended Articles
Taking on the Voyager ruling by the Apex court, the US SEC stated that it won’t help Ripple either as that case involved a bankruptcy plan for the potential sale of crypto assets to another company. However, the commission already booked an objection in the Voyager deal. Meanwhile, the bankruptcy judge overruled the SEC’s objection in a ruling.
Also Read: Bitcoin and Crypto Back on Upward Trajectory Despite SEC’s Crypto Caution
- OpenAI CEO Apologizes for Equity Cancellation Clause
- Analyst Predicts Ethereum ETF to Trigger Major ETH Market Moves
- Genesis Creditors to Receive 97% Payout by May Following Court Nod
- Terra Luna Classic Community Votes on Reactivating IBC, LUNC Price to Rally?
- US House to Vote on Two Landmark Crypto Bills Next Week
- Shiba Inu Price Analysis Hints 35% Upside as Buyers Break 50-Day Consolidation
- Solana Price Prediction: Can SOL Surpass the $200 Milestone By End Of This Weekend?
- Ethereum Price Analysis: ETH Sees End-of-Correction With This Resistance Breakout
- Turn $1 Into $100 This Week With 3 Altcoins To Buy
- Crypto Market Analysis 18/5: Will Bitcoin Regain $70000 this Weekend?