In recent months, several analysts have predicted that Ripple will win its lawsuit against the SEC. This prediction now seems to be reversing. Could the recent disappointing revelations about the Hinman documents be a game-changer?
Prometheum Founder Gives Ripple Loser to SEC
Does Ripple still have a chance of winning its lawsuit against the SEC? Aaron Kaplan, founder of crypto firm Prometheum thinks not. Speaking on the subject, the boss said he was rather giving the SEC winning this legal battle.
“I think the SEC will win this case. [contre Ripple, Ndlr]because everything indicates that the decision will be in favor of the commission”, Kaplan said during his recent appearance on the Daily Drop show.
This intervention is by far the first position against Ripple. In recent months, however, the idea of a potential victory for the company had spread widely within the crypto industry.
This perspective was based in particular on the data of the Hinman documents whose recent disclosure was more than disappointing for the industry. One could therefore imagine that Kaplan’s projections are linked to the latter. This is not the case.
If Aaron Kaplan thinks the SEC will win his case, it’s because of a precedent: the SEC vs. LBRY case. This file, which opposed the distributor of open source content LBRY, to the SEC, turned to the advantage of the latter.
This, because justice finally considered that LBRY did not respect the standards on transferable securities. According to the logic of the boss, Ripple should thus suffer the same fate because there would be similarities in the two cases.
Inconsistent projections?
This reasoning has caused a stir within the crypto community. Several users considered that this way of seeing things lacked relevance while being a tad biased. Which is at the very least logical since Aaron Kaplan is particularly favorable to the policy of regulators.
” Very strange. Nothing in the cases he cited, not even Hinman’s speech himself or the warnings he received from SEC staff about the speech, does not support the notion that the token is a security”criticized the legal news outlet CryptoLaw.
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