* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, July 2, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

The Ripple-SEC Backlash Has Begun

July 17, 2023
in Business
The Ripple-SEC Backlash Has Begun
Share on FacebookShare on Twitter

http://fullycrypto.com/

By Mark Hunter

2 hours agoMon Jul 17 2023 07:50:59

The-Ripple-SEC-Backlash-Has-Begun

Reading Time: 3 minutes

The backlash against the Ripple v SEC ruling last week has begun in earnest
Former SEC chiefs have weighed in to say that the ruling will be reversed
The arguments are coming down to technical points of securities law that most don’t understand

Ripple fans had barely recovered from their partying following the verdict in its securities case against the Securities and Exchange Commission (SEC) last week when the bears showed up and started growling. Several prominent individuals, from securities lawyers to former SEC chiefs, have taken great pleasure this weekend in dissecting Ripple’s ‘win’ and pointing out that all may not be rosy in the crypto garden just yet.

Second Circuit “Will Overturn” Verdict

On Friday, John Reed Stark, a former chief at the SEC’s Office of Internet Enforcement, penned a LinkedIn blog post (boomer) in which he claimed that a reversal is likely in time. Stark Reed didn’t sugar coat the decision, which he called “definitely an SEC loss,” but added that the verdict “resides on shaky ground” and added that it will “likely be appealed at some point, will likely result in reversal and is not necessarily a cause for celebration.”

Stark analyzed the ruling and said that the court was “taking seriously the cryptoverse position that the SEC has sent mixed and inconsistent messages regarding the application of the Howey Test to tokens trading in the secondary market,” but pointed out Ripple’s failure to “reinvent the Howey test,” which the court didn’t buy.

“Troubling on Many Fronts”

He added that the ruling was “troubling on multiple fronts” and was “anathema to the SEC’s mission and authority” to protect investors, claiming that it protected institutional investors but not retail ones. He also argued that the court’s stance that tokens cease to be securities when sold on exchanges to retail traders without knowledge of the issuer seems inconsistent with basic investment principles and added that the awarding of XRP tokens to employees and third parties seems to “defy well established principles of contract law.”

Stark summarized his opinion thus:

Stock is always stock – it can’t transmogrify into “not stock.” So my take is that at some point, the SEC will appeal the Ripple decision to the 2nd Circuit and the 2nd Circuit will overturn the District Court’s rulings related to “programmatic” and “other sales.” 

Others Pile In

Stark isn’t the only professional who doubts the legitimacy of the Ripple judgement. former SEC regional director and experienced attorney, Marc Fagel, a former partner with the law firm of Gibson, Dunn & Crutcher, where he served as co-chair of the firm’s national Securities Enforcement Practice Group, also doubts that elements of the case could also be reversed:

Howey is about economic reality, and there is no rational reason for the treatment to be so different. The conclusion that, as a matter of law, no reasonable investor expects profits from a third party because they buy the asset indirectly is…well, reversible error, I predict.

— Marc Fagel (@Marc_Fagel) July 16, 2023

Fagel added that he expected both sides to appeal the areas in which they lost and that the SEC will come out better.

Issue Comes Down to Interpretation of Securities Law

Fagel and Stark aren’t alone in their reading of the situation, which for onlookers has come down to a case of who you trust more; many of those criticizing the ruling would appear to have an anti-Ripple agenda, while those cheering it have ignored the negative elements of the decision.

It wasn’t just individuals that were confused by the decision, with the Financial Times calling it “rather curious” and asking tongue-in-cheek for clarifications from experts to help it understand. One of those who offered a take was pro-crypto lawyer Jake Chervinsky, who clarified the key areas of discussion:

This is a critical distinction that the industry has made, and the SEC has ignored, for years.

The fact that a federal district court has explicitly acknowledged its validity is a monumental shift in US crypto regulation, and a forceful rejection of the SEC’s theory of the law.

— Jake Chervinsky (@jchervinsky) July 15, 2023

Ripple CEO Brad Garlinghouse is under no illusions as to what the SEC will do next. He told Bloomberg that he fully expects an appeal from the SEC, but wasn’t too worried about the potential for a re-locking of horns:

As a matter of law, the law of the land right now is that XRP is not a security. Until there is an opportunity for the SEC to file an appeal, which would take years, frankly, we are very optimistic.

Garlinghouse dismissed the institutional sales aspect as “the smallest piece” of the lawsuit and said that if the SEC were to file an appeal against the secondary market ruling it would only further solidify the decision that Torres made. He also took the opportunity to call the SEC a “bully” and claimed a victory for the whole crypto space.

One thing’s for sure: we may have a verdict but we certainly haven’t heard the last of this case.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FullCrypto – https://fullycrypto.com/the-ripple-sec-backlash-has-begun?utm_source=rss&utm_medium=rss&utm_campaign=the-ripple-sec-backlash-has-begun

Tags: BacklashbusinessRipple-SEC
Previous Post

Father and Son Ran $10 Million Crypto Scam

Next Post

Multichain to Close After CEO Arrest Confirmed

Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

July 2, 2025
NBA’s Malik Beasley sued for $2.25M by sports agency for breach of contract, alleged unpaid loan amid federal gambling probe – Yahoo Sports

NBA’s Malik Beasley sued for $2.25M by sports agency for breach of contract, alleged unpaid loan amid federal gambling probe – Yahoo Sports

July 2, 2025
He’s searching for a human-made problem in areas largely untouched by humans. Answers are just emerging – CNN

He’s searching for a human-made problem in areas largely untouched by humans. Answers are just emerging – CNN

July 1, 2025
Asteroid 2024 YR4 might smash into the moon – Popular Science

Urgent Alert: Asteroid 2024 YR4 Headed Straight for the Moon!

July 1, 2025
These 9 towns were named the ‘quirkiest’ in New Jersey, according to World Atlas – Bergen Record

These 9 towns were named the ‘quirkiest’ in New Jersey, according to World Atlas – Bergen Record

July 1, 2025
Trump’s Tax Bill Won’t Help or Hurt the Economy. The Deficit Is Already Huge. – Barron’s

Trump’s Tax Bill Won’t Help or Hurt the Economy. The Deficit Is Already Huge. – Barron’s

July 1, 2025
Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

July 1, 2025
Who would be affected by health care cuts in Senate version of Trump’s budget bill – PBS

Who Will Be Hit Hardest by Health Care Cuts in the Senate’s Trump Budget Plan?

July 1, 2025
Senate passes Trump’s reconciliation bill with Vance casting tie-breaking vote – PBS

Senate Passes Trump’s Reconciliation Bill After Vance Casts Decisive Tie-Breaking Vote

July 1, 2025
Groundbreaking technology to help police tackle violence against women – The Independent

Revolutionary Technology Transforms the Fight Against Violence Toward Women

July 1, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (701)
  • Economy (726)
  • Entertainment (21,615)
  • General (15,659)
  • Health (9,766)
  • Lifestyle (731)
  • News (22,149)
  • People (727)
  • Politics (733)
  • Science (15,944)
  • Sports (21,224)
  • Technology (15,711)
  • World (707)

Recent News

Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

July 2, 2025
NBA’s Malik Beasley sued for $2.25M by sports agency for breach of contract, alleged unpaid loan amid federal gambling probe – Yahoo Sports

NBA’s Malik Beasley sued for $2.25M by sports agency for breach of contract, alleged unpaid loan amid federal gambling probe – Yahoo Sports

July 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version