The much-anticipated Summary Judgment in the crucial Securities and Exchange Commission (SEC) Vs Ripple lawsuit is yet to be delivered by the U.S. District Court. As the judge moves closer to concluding the case, the relisting of XRP on crypto exchanges has become a major concern among its holders.
“Secondary Market Sales” of XRP have been a hot topic among crypto leaders and experts, but the court has not addressed this issue in the XRP lawsuit. It’s worth noting that the US SEC admitted that the LBRY Credits (LBC) tokens’ secondary market sales don’t constitute a security. This recent settlement in the LBRY lawsuit could potentially be discussed among Ripple’s legal team.
Attorney Jeremy Hogan is confident that XRP will be relisted on crypto exchanges once the judge decides whether the token is inherently a security. The SEC’s complaint claims that XRP itself is a security but does not address the nature of the asset. Hogan mentioned that there’s a high chance that the court might not take up this particular issue since the commission didn’t explicitly raise it. However, both parties can argue over the secondary sales by adding an omission.
Hogan noted that Ripple and the US SEC could strike an agreement to include this issue in the hearings, although the judge could ultimately approve the defendants’ assertion in the proposed Final Judgment. Meanwhile, the district court could choose to address concerns filed by amicus curiae related to secondary sales, similar to what transpired in the US SEC Vs LBRY lawsuit.
However, LBRY’s latest filings revealed that the commission has failed to provide clarity even after striking a settlement over the issue. This raises questions: Will the issue of secondary sales of XRP tokens be addressed, or will investors be left with lingering doubts?
The relisting of XRP on crypto exchanges hangs in the balance, hinging on the court’s decision on whether the token is a security. With the ongoing uncertainty, investors must conduct thorough market research before investing in cryptocurrencies, as the personal opinions of authors and market conditions can change rapidly. Ultimately, the responsibility for personal financial loss lies with the investor, not the author or publication.
Source: Coingape
