Ripple’s chief legal officer criticizes the SEC argument that XRP is a security
Join Our Telegram channel to stay up to date on breaking news coverage The chief legal officer at Ripple, Stuart Alderoty, has criticized the decision made by the US Securities and Exchange Commission (SEC) to classify XRP as a security. Alderoty also said that it was not a rare occurrence for the courts to rule against the regulator. Ripple’s legal executive criticizes SEC Alderoty posted a tweet on Saturday where he referred to a 1946 case where the US Supreme Court made a ruling against the SEC. The battle between Ripple and the SEC over the status of CRP as a commodity or security has been one of the most high-profile legal battles in the crypto industry. In 1946, in its Sup Ct “Howey” brief, the SEC unsuccessfully argued that an investment in a “common enterprise” was unnecessary provided there was a “community of interest”. The SEC was wrong then and it is still wrong now. Common Interest ≠ Common Enterprise. pic.twitter.co...