Ripple is looking to expand its presence in the MENA region, forming a new partnership with Pyyp, a global blockchain-based financial services technology company. The latter has reportedly joined Ripple’s On-Demand Liquidity (ODL) network, which, among many benefits, allows it to bring instant, low-cost remittances to its customers.
“Absent a settlement, this case will not be decided until March 2022 at the earliest and possibly not even until late spring if the court decides not to rule on some of the pending motions until after the discovery deadline, which looks really possible”.
The SEC is ordered to explain, among other things, how the Howie test applies to XRP, what is the status of Ether and Bitcoin, and the sale of XRP as investment contracts.
Ripple has been quickly expanding its footprint in the Middle East. Earlier this month, it became official that the Qatar National Bank (QNB) plans to launch a remittance platform based on Ripple blockchain technology.
Some might disagree with the Judge’s statement that the extension of the expert discovery deadline by two months will not affect the schedule of the SEC v. Ripple lawsuit.
SBI Securities has expanded its business relationship with Broadridge Financial Solutions to enhance services to its clients and further automate operations across business lines. The brokerage firm is one of Japan’s largest online securities companies and a subsidiary of SBI Holdings, an early ally and investor in Ripple Labs. Ripple has recently gone live with […]
As the lawsuit is again at risk of extending deadlines potentially for summary judgment, Mr. Hogan was clear that the SEC v Ripple has an end in sight.
“There has never been a crypto case in which this has happened. So, this would be unchartered waters but the effect of any order would be absolutely devastating.”
The SEC’s bad timing – we’re close to the discovery deadline – may work in favor of Ripple’s interests, but the Judge is expected to compel Ripple to produce evidence that will form the backbone of the SEC’s case.
“It blows my mind that the SEC has not reviewed already, and is arguing that it’s “unduly burdensome” that it actually review the contracts it is suing about!”, attorney Jeremy Hogan commented.
“If the SEC cannot easily articulate an unassailable legal theory for why particular assets are securities, is the line as clear as the SEC maintains it is?”
The SEC’s bad timing for this motion to compel, however, might save Ripple from a turn of events.
Capgemini found that increasing cross-border payment needs, higher transaction fees, and lack of standardization in global payments are prompting the move toward crypto.
Was XRP marketed and sold as an investment contract?
Ripple found out about an email chain between the SEC and a third party that could prove Hinman’s 2018 speech was not merely a personal opinion, but the SEC’s policy. The Judge wants to take a look at it.
“The SEC seeks disgorgement of at least $1.38 billion in revenue generated by Ripple from those exact same contracts, yet says it can’t be bothered to actually read them”.
The trials and tribulations of the XRP community and the digital asset ecosystem.
“It is disconcerting to me that for three years now I’ve been asking for regulatory clarity, and we can’t seem to provide any”.
“Yes, Judge, a lot of things about this case are backwards. Why would 22k XRP “securities” holders want to intervene as Defendants in a case where the SEC is supposed to be representing them??”
