Stuart Alderoty outlines stance on XRP using arguments that opponents do not have answer to
Ripple’s General Counsel, Stuart Alderotti, made another rant on social media regarding the SEC and the mass media’s misgivings about the company’s position in court. Of course, it was about XRP and Ripple’s interaction with the cryptocurrency.
As part of his address, Alderoty once again outlined the crypto company’s arguments in detail, not passing up an opportunity to take a jab at its opponents.
First, the lawyer notes that there is no investment contract between Ripple and XRP holders. Second, Alderoty says, the SEC cannot satisfy any point of the Howey test, which is used to define a security. Ripple also argues that neither point of the test can be satisfied. Furthermore, the regulator’s reliance on examples of ICOs of various forms and types is irrelevant, they concluded.
Ripple’s counsel summed up his statement with the thesis that the commission is trying to twist the company’s arguments, as they have no answers to the actual ones above.
Ripple v. SEC: Current Status
The litigation between Ripple and the SEC is still ongoing, and the action has already moved into a more active phase of debate between the parties. The latest twist in the development of this case has been the publication of their responses to motions for summary judgment by opponents.
Commenting on current events, Alderoty said that Ripple in this case is not only protecting itself but also the entire crypto industry — playing it straight with the court, unlike Ripple’s adversaries, he concluded.
