• News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

SEC Vs Ripple Case: Experts Believe No Party is at an Advantage

8 March 2023
in Latest News, News, Policy
Reading Time: 3 mins read
104 5
SEC Vs Ripple Case: Experts Believe No Party is at an Advantage

Image source: cryptoslate.com

Scott Chamberlain, a co-founder of Evernode XRP and a former attorney, has commented on the recent court hearing regarding the ongoing case between Ripple and the U.S. Securities and Exchange Commission (SEC). 

Chamberlain stated that neither side has an advantage following Judge Analisa Torres’ decision to dismiss portions of both parties’ “Daubert” motions during the hearing on March 6, 2023. These motions were made to exclude the presentation of expert testimony. The US SEC had five experts and Ripple had ten.

Neither side gets everything it asked for because neither side had impeccable arguments for everything it wanted.

What leaps out is how sharp, rigorous, and utterly impartial Judge Torres is. https://t.co/KPdgDdZdPY

— Scott Chamberlain (@scotty2ten) March 7, 2023

Since both Ripple and the SEC rely heavily on expert testimony to support their arguments, the judge’s decision to grant and deny parts of both parties’ requests means that neither side has fully benefited from the decision. Chamberlain praised Judge Torres for being sharp, rigorous, and impartial.

During the hearing, Judge Torres excluded Patrick Doodle, the leading expert witness, and rejected the SEC’s attempt to exclude John Deaton, the attorney for the XRP community, from the case.

In a brief livestream on Twitter, Deaton stated that the outcome of the case would have significant implications, as a ruling in favour of the SEC could impact other tokens, including Ethereum.

Deaton also noted that the most significant victory for XRP holders was the exclusion of Patrick Doodle as an expert witness, as he will not be able to testify on why XRP holders bought the token. He praised the judge for implementing the law objectively and without bias and pointed out that the ruling is 60–40 in Ripple’s favour.

Jeremy Hogan, a partner at Hogan & Hogan, believes that the judge’s decision has removed the SEC’s only hope of proving that XRP holders had reasonable expectations of profits from Ripple’s efforts, and the SEC now needs to find a new witness to testify.

The SEC has to prove that you had a REASONABLE expectation of profits from Ripple’s efforts.

And the Judge just struck the SEC’s ONLY Expert Witness on that subject.

So, now, how the heck can the SEC prove “reasonable” reliance? Who will testify?

Just thinking out loud. 🙂 https://t.co/qnqvxEAMI2 pic.twitter.com/ujjfRt657q

— Jeremy Hogan (@attorneyjeremy1) March 7, 2023

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

 

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share63Tweet40Share11
Previous Post

Indian Authorities Demand Compliance With Anti-Money Laundering Regulations for Crypto Transactions

Next Post

President Biden Plans to Clamp Down on Crypto Wash-Sales

Durotimi Aribisala

Durotimi Aribisala

Durotimi is a writer who is interested in writing about emerging technologies such as blockchain, Web3, crypto, and AI. He studied business administration and management. He desires to be an entrepreneur and movie director sometime in the future.

Related Posts

France, Singapore, and Switzerland Test Cross-Border CBDCs in Project Mariana
CBDCs

France, Singapore, and Switzerland Test Cross-Border CBDCs in Project Mariana

28 September 2023

The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed a collaborative experimental test focused on cross-border trading and settlement involving wholesale central bank digital currencies (CBDCs). According to a report published...

Binance Asks Users to Convert Their EUR Balances to USDT After Paysafe Pullout
Latest News

Binance Asks Users to Convert Their EUR Balances to USDT After Paysafe Pullout

28 September 2023

Binance, on Thursday, September 28, 2023, announced that there would be a brief interruption of euro (EUR) payments due to Paysafe's unilateral decision "to stop processing EUR deposits" for the exchange's users.  The exchange stated that Paysafe users will...

Kraken Expands European Footprint with Licence Approvals in Spain and Ireland
News

Kraken Expands European Footprint with Licence Approvals in Spain and Ireland

27 September 2023

Popular cryptocurrency exchange Kraken has marked a significant stride in its European expansion drive. On September 26, 2023, the exchange announced that it had secured licencing approvals from the Central Bank of Ireland and the Bank of Spain. These...

Binance Exits the Russian Market, Returns to Full Operations in Belgium
Latest News

Binance Exits the Russian Market, Returns to Full Operations in Belgium

27 September 2023

Binance is bidding farewell to the Russian market, selling its business subsidiary in the nation to CommEX. While this exit process will unfold over the next year, Binance has assured its Russian users that their funds will remain unaffected....

Swap Crypto

Markets Update

PayPal USD Stablecoin: A Win For Ethereum Or A Return to Centralization?

2 months ago

Worldcoin (WLD) Price Surges on Launch, But Privacy Concerns Issues Cast Doubts

2 months ago

XRP Skyrockets as Ripple Scores Partial Victory In SEC Battle; What Next for US Crypto Regulation?

2 months ago

Bitcoin May Be on a Bullish Trend As Price Approaches the $26,800 Key Support Level

4 months ago

DOGE Hits $10B Market Cap; Community Criticizes New Twitter CEO Appointment

4 months ago

NFT Market in Q1 2023: A Tale of Strong Starts, Mixed Performances, and Shifting Market Dynamics

5 months ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

Gora Network Launches Testnet on Arbitrum

Gora Network Launches Testnet on Arbitrum

byGuest Author
13 August 2023
0

...

Blockswap to Host Multichain ERC20 Side Event at ETHCC

Blockswap to Host Multichain ERC20 Side Event at ETHCC

byGuest Author
8 July 2023
0

...

Goracle’s $GORA Initial DEX Offering Is Live on DeFi planet

Goracle’s $GORA Initial DEX Offering Is Live!

byGuest Author
28 June 2023
0

...

BitMEX Introduces a New PnL Realisation Feature for More Capital-Efficient Cross-Margining

BitMEX Introduces a New PnL Realization Feature

byGuest Author
13 April 2023
0

...

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities, Aims to Adapt Swiftly in an Evolving Landscape

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

byGuest Author
13 April 2023
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2023 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00