{"id":61028,"date":"2025-04-22T09:15:16","date_gmt":"2025-04-22T09:15:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=61028"},"modified":"2025-04-22T09:15:16","modified_gmt":"2025-04-22T09:15:16","slug":"ripple-xrp-faces-new-legal-challenges-but-its-not-the-sec-this-time-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=61028","title":{"rendered":"Ripple (XRP) Faces New Legal Challenges But It\u2019s Not the SEC This Time: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple\u2019s token was named in a lawsuit by the Oregon Attorney General against Coinbase.<\/span>
\nLegal experts, including Bill Morgan, criticized the move as unjustified and out of touch, citing past rulings.<\/p>\n

<\/a><\/span><\/h2>\n

Another Attack on XRP<\/h2>\n

Ripple has the habit of making the headlines, but sometimes, the news surrounding it is not what its proponents want to see. Most recently, the company\u2019s cross-border token was <\/span>included<\/span><\/a> in a lawsuit that the Oregon Attorney General (AG) filed against the US-based crypto exchange Coinbase.<\/span><\/p>\n

The <\/span>chief legal officer of the state claims<\/span> XRP, SOL, ADA, LINK, UNI, and many more were offered and sold as investment contracts on the platform.<\/span> The lawsuit refers to them as \u201ccrypto securities.\u201d<\/span><\/p>\n

The attack from the Oregon AG raised some eyebrows across the community. Bill Morgan \u2013 the prominent legal commentator known for his in-depth analysis of Ripple\u2019s legal battles \u2013 was among those <\/span>criticizing<\/span><\/a> the action. <\/span><\/p>\n

He said <\/span>the chief legal officer of<\/span> the state of Oregon <\/span>ignored the fact<\/span> that Coinbase delisted XRP from its platform in December 2020 after the US Securities and Exchange Commission (SEC) sued Ripple.<\/span> The exchange <\/span>re-enabled<\/span><\/a> trading with the asset in the summer of 2023 following a court ruling that the secondary sale of XRP didn\u2019t constitute an offer of investment contracts.\u00a0<\/span><\/p>\n

\u201cNo one could have the imagination to make up this dystopian nonsense,\u201d he added.<\/span><\/p>\n

It is important to note that Coinbase faced similar problems from the SEC in the past. Nearly two years ago, the agency filed<\/a> a 101-page lawsuit against the exchange, accusing it of violating securities laws by making certain cryptocurrencies that supposedly passed the Howey Test available for trade on its platform.<\/span><\/p>\n

Some <\/span>of the<\/span> large-cap altcoins labeled as securities in the case included SOL, ADA, and MATIC, while <\/span>XRP was not mentioned<\/span>. <\/span>The SEC drastically changed its hostile approach toward the crypto industry <\/span>in the past several months<\/span>, ending its legal disputes with numerous digital asset entities.<\/span> The case against <\/span>Coinbase<\/span><\/a> is among the dismissed ones, but perhaps the most popular one (against Ripple) is still awaiting its official resolution.\u00a0<\/span><\/p>\n

Latest Updates on the Ripple v. SEC Front<\/span><\/h2>\n

Last month, Ripple\u2019s CEO, Brad Garlinghouse,\u00a0announced<\/a> a major win, revealing that the SEC would withdraw its latest appeal, signaling the effective conclusion of the lawsuit.\u00a0The company\u2019s chief legal officer \u2013 Stuart Alderoty \u2013 later confirmed this development.<\/span><\/p>\n

The Ripple community <\/span>was quick to celebrate<\/span> this as the end of the case that had been dragging on for over four years. However, the battle needs to undergo additional legal proceedings before becoming part of history.\u00a0<\/span><\/p>\n

Earlier this month, Ripple and the SEC <\/span>filed<\/span><\/a> a joint motion to request a pause on their <\/span>individual<\/span> appeals. Shortly after, the US Court of Appeals for the Second Circuit acknowledged<\/a> and granted the submission.\u00a0<\/span><\/p>\n

Although this brings the case closer to a formal resolution, the securities regulator has yet to make an official statement. Meanwhile, attorney James Filan noted that the agency has <\/span>been ordered<\/span> to submit a status report on its legal proceedings within 60 days of that ruling.<\/span><\/p>\n

It may seem like the<\/span> lawsuit\u2019s end is just a matter of time, but analysts have <\/span>warned<\/span><\/a> that its eventual resolution is unlikely to impact XRP as it has already <\/span>been priced in.<\/span><\/p>\n

The post Ripple (XRP) Faces New Legal Challenges But It\u2019s Not the SEC This Time: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple\u2019s token was named in a lawsuit by the Oregon Attorney General against Coinbase. Legal experts, including Bill Morgan, criticized the move as unjustified and out of touch, citing past rulings. Another Attack on XRP Ripple has the habit of making the headlines, but sometimes, the news surrounding it is not what its proponents […]<\/p>\n","protected":false},"author":0,"featured_media":61029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-61028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/61028"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61028"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/61028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/61029"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}