Ripple vs. SEC: The Best-Known Court Cases in Crypto History
The fight between Ripple vs SEC is well-known and has been ongoing for over two years, and the SEC said that Ripple was marketing XRP as a security, which hurt XRP’s long-term price growth potential.
It is one of the best-known court cases in the history of cryptocurrencies and a big deal for worries about how the industry is regulated. In the case of Ripple v. SEC, a critical summary decision is coming up soon, and new information could change the outcome.
In the Ripple case, one of the newest things to happen is that the SEC legal team has written an interesting letter.
Judge Torres’s Letter in Ripple Case
In its most recent letter to Judge Torres, the SEC sent a notice of supplemental authority to back up its motion for summary judgment.
The SEC mentioned in the letter: “The Commonwealth decision’s holding that longstanding Supreme Court precedent can provide fair notice is identical to the SEC’s position in this case: that Howey and its progeny provided defendants with sufficient fair notice to defeat their constitutional defense.”
The letter from the SEC is convincing and a good reminder that the “fair notice” defense may not always work and that people shouldn’t use not knowing the law as an excuse. At the moment, it is unclear how this could affect the Ripple v. SEC decision.
The Securities and Exchange Commission (SEC) told the United States District Judge about its decision in the case against Commonwealth Equity Services about alleged disclosure violations.