pabs

[John E Deaton @JohnEDeaton1]

Special Live show in 8 min

[CryptoLaw @CryptoLawUS]

The Torres Smackdown https://t.co/rCuddPisx5

[Jeremy Hogan @attorneyjeremy1]

The SEC's motion for interlocutory appeal DENIED.

Which means, the case either goes to trial in April, or goes away.

AND, this Order allowed the Judge to explain parts of her ruling even better, making appeal that much harder for the SEC to win.

Disaster for the agency.

[Greg Beuke That's Bikey Like a Bike, Fool! ᛤ @GregBeukeAttyKS]

@JohnEDeaton1 predicted a settlement AFTER summary judgment. At this point, I can see that happening. The SEC can't not understand the court's ruling anymore. And after this ruling, it's getting nearly impossible even to pretend it doesn't. 11/11

[WrathofKahneman @WKahneman]

In denying the SEC's interlocutory appeal, the court exposes how the SEC argued for Howey application, not larger questions of law (which Ripple, et al, argued). Then in appeal, the SEC reversed tack. Now the court asserts their proper interpretation of Investment contract"!

[Jeremy Hogan @attorneyjeremy1]

I like how the Judge here clarifies her holding, at the same time reminding the SEC that speculating in a commodity alone does not meet the test but that you ALSO must rely on the "efforts of others," which the SEC failed to prove.

[Matt Hamilton @HammerToe]

@MTCoppel @coinbase I do find it amazing that you can write an entire thread on this and not reference the other big decision that reinforces Howey, the rejection of the SEC’s interlocutory appeal in the Ripple case.

I notice that @BlockchainAssn hasn’t mentioned it at all either? Kinda odd?

[John E Deaton @JohnEDeaton1]

Scott wins best comment of the night:

“Now it [the @SECGov] has to push shit uphill with a pointy stick if it wants to win.”

[John E Deaton @JohnEDeaton1]

We know @SECEnfDirector @GurbirGrewalNJ avoids testifying truthfully when he can. He 💯 misled @WarrenDavidson when the Congressman asked him about the Hinman speech, and whether ethics’ lawyers at the SEC approved the speech.

[Ripple @Ripple]

We are honored to announce that Ripple has been recognized by Juniper Research in their prestigious Future Digital Awards for Fintech & Payments 2023:

🥇 Sustainability in #Fintech Innovation of the Year
🥇 Platinum Award for #CBDC Innovation

Learn more: https://t.co/FnFre0BFaY

[CryptoLaw @CryptoLawUS]

🚨SPECIAL LIVECAST TODAY at 4:30PM:
"The Torres Smackdown" @JohnEDeaton1 explains why Judge Torres' ruling against the @SECGov on interlocutory appeal matters and what's next.

LIVE today on #CryptoLawTV at 4:30pm ET/8:30pm UTC 👇

[Stuart Alderoty @s_alderoty]

The Court’s July 13 ruling was, and remains, the law of the land. XRP is not a security.

[Brad Garlinghouse @bgarlinghouse]

The SEC’s request to file an interlocutory appeal is DENIED. I’m not a lawyer but it seems the Court just told the SEC: You asked me to apply the “Howey” test, I did, and like it or not, you lost.

[Eleanor Terrett @EleanorTerrett]

The @SECGov’s motion for leave to file an interlocutory appeal in the @Ripple case has been DENIED. 👇🏼

“…the SEC's motion for certification of interlocutory appeal is DENIED, and the SEC's request for a stay is DENIED as moot.”

Full doc here: https://t.co/VzhzrleM85

[John E Deaton @JohnEDeaton1]

When the SEC filed the request to file an interlocutory appeal I said it would be another mistake by the SEC. I said she would bolster her previous summary judgment ruling making it bulletproof on a full appeal because she would make it more fact specific, which is what she did.

[Stuart Alderoty @s_alderoty]

Singapore’s @MAS_sg has consistently shown it takes a progressive and thoughtful approach to crypto regulation and licensing, combined with rigorous standards. Excited to work under MAS’s supervision.

[Brad Garlinghouse @bgarlinghouse]

Incredibly proud of team @Ripple – just 4(!) months after we received our in-principle approval from @MAS_sg, we’ve now secured the full Major Payment Institution license for digital payment token services in Singapore.

[Eleanor Terrett @EleanorTerrett]

🚨NEW: I asked @JohnEDeaton1 what his initial reaction was to Judge Torres’s ruling. He told me:

“She made clear that her decision was about #XRP in this case. In sum, she made it even clearer that, excluding Bitcoin, XRP is the only digital asset with legal clarity.”

[CoinDesk @CoinDesk]

JUST IN: A federal judge has rejected the SEC’s bid to appeal its ground-shaking loss against @Ripple, the crypto company associated with the $XRP token. $XRP rallied after the ruling was announced.

@nikhileshde reports

https://t.co/uabB4H1dI1

[Ashley PROSPER @AshleyPROSPER1]

#XRP #XRPCommunity
Footnote 5... wow Judge Torres is really taking the SEC to school on the Howey test. Turns out that brush isn't so broad @GaryGensler 👇