Ripple Avoids Securities Question in Motion to Dismiss XRP Lawsuit

[ZeeperCreeper]

https://www.scribd.com/document/426643035/Defendants-Motion-to-Dismiss#

 

Please, someone with legal expertise, translate it to layman terms.

[XRP-JAG]

Had a quick look, the defence appears to be...

Firstly, it’s not a Security. It’s virtual currency as per the 2015 fine Ripple &  XRP II was given.

After that, various reasons why the plaintiff can’t make a claim. Ie, it’s too long ago (timelimit on law), they didn’t buy directly from Ripple, can’t show they brought it in the State they bringing the action.

Didn't see anything new in terms of no action letter from SEC etc.

[panmores]

Thanks for sharing, OP... this catches attention:

 

[SquaryBone]

How long could it take for further action from the courts because of this update?

A quarter? A year?

Edited September 20, 2019 by SquaryBone
typo

[Caracappa]

43 minutes ago, SquaryBone said:

How long could it take for further action from the courts because of this update?

A quarter? A year?

Untill it's quietly implemented everywhere, the world runs on Ripplenet and they need to flip the switch to an instant democratized finance and IoV around the globe.

Lawsuits can take years or they can be dealt with Swiftly.

[SquaryBone]

1 hour ago, Caracappa said:

Untill it's quietly implemented everywhere, the world runs on Ripplenet and they need to flip the switch to an instant democratized finance and IoV around the globe.

Lawsuits can take years or they can be dealt with Swiftly.

I suppose there is a deadline for the court to make a decision based on this. So either say it's valid and dismiss the case or decline the request to dismiss and wait until the actual trial. Just like there is a deadline for Ripple/... to respond.

[Caracappa]

18 minutes ago, SquaryBone said:

I suppose there is a deadline for the court to make a decision based on this. So either say it's valid and dismiss the case or decline the request to dismiss and wait until the actual trial. Just like there is a deadline for Ripple/... to respond.

Sure, and I'm not very familiar with US laws (aside from Law&Order the series ofcourse!)... But itn't the us the country of sue and appeal and appeal and apeal till one of both sides goes bankrupt and has to drop the case? 

[vrippled]

Read the full article here:

https://sg.finance.yahoo.com/news/ripple-avoids-securities-motion-dismiss-063051113.html?RelatedContentIds=

[peanut56]

I almost got mad at you O.P. then I realized the rules state you have to use the title of the article.

[Benchmark]

BS crypto journalism avoids making insightful and interesting articles. 

[ZeeperCreeper]

26 minutes ago, peanut56 said:

I almost got mad at you O.P. then I realized the rules state you have to use the title of the article.

That title is not even the worst offender.

There is an article doing rounds called "Ripple Labs wants the US to forget it’s being sued for selling Ripple (XRP) illegally".

Not going to pollute this forum by posting the link.

[RootSilent]

3 hours ago, Caracappa said:

Lawsuits can take years or they can be dealt with Swiftly.

Hahaha, I see what you did there 🥁

[mrhat75]

It's funny how scared these Bitcon losers are of XRP, not to mention their weird anarcho fantasies.  It is great to slap FUD back in the face.

If you ever want to remember what happens in the anarcho world, look no further than crypto.  Wealth concentrated in the top 1%.  Blatant lies, FUD, and manipulation to maintain that status quo.  Not so different than the world 'they' claim to hate.

Edited September 20, 2019 by mrhat75

[SquaryBone]

I don't get why this is posted here.

I don't understand why the title says "Ripple avoids securities question" while how I read it it's quite the opposite. They say it's not a security. So they don't avoid it.

Edited September 21, 2019 by SquaryBone

[zenkert]

5 hours ago, Caracappa said:

Lawsuits can take years or they can be dealt with Swiftly.

Seriously FUN