Ripple has won a motion to exclude an expert witness for testifying in the case against the company by the US Securities and Exchange Commission (SEC). The judge ruled in favour of Ripple to exclude the first opinion of a reasonable XRP purchaser from the witness, while denying the rest of the testimony. However, Ripple’s argument to exclude expert witness number three was rejected. The case has significant implications for the crypto regulation in the US. Ripple’s win may hurt the SEC’s case since it has to prove that XRP investors had an expectation of profits from Ripple’s efforts.
Ripple vs SEC Lawsuit: Ripple’s Motion to Exclude Expert Granted
Hey guys, what is up? It’s Dusty here, and welcome back to another episode of The Daily Crypto News. Today, we have some rather interesting news specifically on xrp and ripple because something just happened in the Ripple versus SEC lawsuit that all of you guys need to be made aware of.
Ripple’s Motion to Exclude Expert Number One from Testifying is Granted
Ripple’s motion to exclude expert number one from testifying is granted. Right that was just done as to his first opinion about the perceptions of a reasonable xrp purchaser and denied as to the remainder of his testimony that was just said by judge Torres. Now, try and tell me xrp holders don’t make a difference, as again, they stepped in foreign.
XRP Lawsuit News
This lawsuit has been dragging on for a long time, and the majority of us are tired of it and hope for it to be over. But I’d say that’s always a double-edged sword. The moment it’s over, you might never be able to buy yourself some cheap xrp. Then again, the moment it’s over, crypto regulation has a new basis in the US, which is huge, and our portfolios will pump.
Jeremy Hogan’s Opinion on the Matter
There’s also Jeremy Hogan, who had some interesting words on the matter. According to him, the SEC has to prove that you had a reasonable expectation of profits from Ripple’s efforts, and the judge just struck the SEC’s only expert witness on that specific subject.
Judge Issues a Ruling on Party’s Motions to Preclude Expert Testimony
Breaking the judge issues a ruling on party’s motions to preclude expert testimony, and let’s see what Jeremy Hogan had to say about this situation. After the ruling, Hogan says, “the SEC has to prove reasonable reliance. Who will testify for that?”
Ripple’s Argument on Expert Number Three
Lastly, the court rejects Ripple’s argument that expert number three’s opinions are irrelevant and unfairly produce expert number three’s testimony about defendants’ incentives of Ripple’s incentives and actions to influence the XP price is directly relevant to the fact-finder’s determination about whether purchasers of xrp reasonably expected profits derived from Ripple’s efforts.
All in all, this is big news, and XRP holders can now breathe a little easier. But, as always, crypto remains a volatile market, and the future is uncertain. Stay tuned for more updates on this lawsuit, and don’t forget to like and subscribe!