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Re: cngreen post# 63976

Thursday, 07/13/2023 7:54:10 PM

Thursday, July 13, 2023 7:54:10 PM

Post# of 64323
Ripple won case against SEC....Not so fast
Ripple Labs scored a victory as Judge Analisa Torres ruled partially in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020.

According to documents filed on July 13, Judge Torres has granted summary judgment in favor of Ripple Labs, ruling that the XRP token is not a security, but only in regards to programmatic sales on digital asset exchanges.

However, the federal judge has ruled that XRP is a security when sold to institutional investors, as it met the conditions set in the Howey Test. (and therefore under the SEC jurisdiction).
I guess if Nutra Pharma can prove it is not a security, it can win. Might not be so difficult. If Nutra Pharma takes the position that it never was a security, and that it was a scam and always intended to be a scam and therefore SEC has no jurisdiction it might win.
(Acceptance of service, and defending not withstanding wink )

I see nothing in the tentative result of the Ripple case that is even remotely applicable.

Don't piss on my leg and tell me it's raining