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26 July 2021

Ripple Execs Use Coinschedule Penalty as Defense | Crypto Briefing

Ripple Execs Use Coinschedule Penalty as Defense | Crypto Briefing

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Most notably, they stated that “The only certainty we see is that people have questions about how to comply with the applicable laws and regulations.”.

Furthermore, they noted that the application of the Howey Test—a set of criteria that is used to determine whether assets are securities—“is not crystal clear.”.

If Ripple’s legal team is correct, the SEC violated Section 17(b) of the Securities Act, which requires courts to take judicial notice of facts that are not subject to reasonable dispute and facts from sources that cannot be reasonably questioned.

SEC first filed charges against Ripple in December 2020 when it claimed that Ripple’s ongoing sales of the XRP token constituted an unregistered securities offering.

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