Ripple's Legal Officer Uses 77-Year-Old Case to Disprove SEC's Claims in Ongoing XRP Lawsuit

05/14 11:46

The legal battle between Ripple and the SEC continues with both sides identifying weaknesses in their opponent's argument. Ripple's chief legal officer, Stuart Alderoty, criticized the SEC's stance on the "common enterprise" argument, citing the regulator's unsuccessful argument in the Supreme Court's "Howey" case of 1946. Alderoty accused the SEC of attempting to misinterpret the Howey test and stretching the definition of "common enterprise" beyond its original intent. The crypto community is anticipating the summary judgment date for the ongoing legal dispute, with Ripple securing a few minor victories throughout the proceedings.
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