A legal expert has warned that the district court ruling on XRP “rests on very shaky ground.” Expecting an appeal, he cautioned that Ripple’s victory “may be a short-lived victory,” claiming that the judge “got the law wrong.” Lawyer on Ruling of SEC v Ripple Case Lawyer Bryan Jacoutot shared his analysis of the ruling in the U.S. Securities and Exchange Commission (SEC) v. Ripple case on Twitter Thursday. Jacoutot is an attorney at Election Law Group and Taylor English Duma; his practice centers on general litigation and election law. He began: I’ve reviewed the district court ruling on XRP and it rests on very shaky ground. Expect an appeal. He explained that the court did rule that Ripple’s sale of XRP to institutional investors amounted to an unlawful security sale. Noting that Ripple received nearly a billion dollars from these XRP sales, the lawyer predicted that the crypto firm “will presumably be required to return/disgorge,” as well as pay penalties and fines. In
Official Bitcoin Latest News Blog 🗞️