The legal battle between Ripple and the SEC is becoming increasingly intriguing with the entrance of pro-XRP lawyer Bill Morgan. He’s taking on a pivotal role in defending Ripple, seeking to clarify the complexities surrounding Ripple’s On-Demand Liquidity (ODL) transactions.
Morgan is challenging the notion that ODL transactions should be considered investment contracts.
Meanwhile, responding to inquiries on social media, Morgan reiterated his stance that ODL customers are not investors but individuals seeking low-cost money transfers facilitated by purchasing XRP.
Furthermore, he emphasized the difference between investment intentions and the utility of transactions, indicating that Ripple shares this viewpoint. Additionally, Morgan emphasized Ripple’s disagreement with Judge Torres’ decision regarding institutional sales, asserting that it does not pertain to ODL transactions.
This underscores Ripple’s strategy to challenge the SEC’s allegations during the upcoming remedies phase of the legal proceedings. The lawyer’s comments shed light on Ripple’s defense strategy and its determination to navigate the complexities of the regulatory landscape.
Legal Focus Now On ODL Sales
With the legal spotlight now zooming on Ripple’s ODL sales, the SEC’s motion to compel Ripple to disclose financial details and post-complaint contracts takes center stage. The U.S. District Court for the Southern District of New York’s court gave the green light for this investigation, showing a closer look at Ripple’s money matters.
As Ripple prepares for the upcoming legal proceedings, Bill Morgan’s perspectives provide a glimpse into Ripple’s defense strategy. This legal saga not only affects Ripple directly but also carries implications for the treatment of all digital assets in the future.
The outcome could set important rules for how digital assets are seen and regulated, not just in the U.S. but also around the world.