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Vondran Legal - Crypto & NFT Law - Ripple vs. SEC (motion for summary judgment).
Ripple, the company behind the third-largest cryptocurrency by the same name, is facing a lawsuit from the U.S. Securities and Exchange Commission (SEC). The SEC alleges that Ripple violated federal securities laws by selling unregistered securities in the form of its XRP tokens. Ripple has motioned for summary judgment, arguing that XRP is not a security and that the SEC's case is "legally and factually unsupportable." If the court rules in favor of Ripple, it would deal a major blow to the SEC's efforts to regulate cryptocurrencies. However, if the court rules against Ripple, it could have far-reaching implications for the cryptocurrency industry as a whole. Either way, the outcome of this lawsuit will have major implications for the future of cryptocurrencies.
Watch our previous podcast to hear the reading of the SEC motion for summary judgment: https://www.blogtalkradio.com/attorneysteve/2022/09/25/sec-vs-ripple-motion-for-summary-judgment-reading