Renowned crypto lawyer Bill Morgan has recently criticized FOX business journalist Charles Gasparino for his derogatory remarks towards Judge Analisa Torres regarding her ruling in the SEC Vs Ripple case. Morgan pointed out that Gasparino’s criticism was misplaced, as the judge’s decision was based on the submissions made by the SEC.
The SEC had emphasized a distinction between Ripple’s sales of XRP to institutional investors and the secondary market, which ultimately influenced Judge Torres’ ruling. Morgan clarified that the judge’s decision was made in accordance with the facts presented by the SEC and the application of the Howey test. Therefore, Gasparino’s negative comments were unjustified and misdirected.
In response to Gasparino’s attack on a crypto analyst who accused him of bias in the Ripple Vs. SEC case, Morgan highlighted the objectivity of Judge Torres’ judgment. The analyst had raised concerns about Gasparino’s apparent desire for Ripple to lose the case, contrasting with the judge’s impartial decision-making process.
Gasparino has been a controversial figure in the ongoing litigation between the SEC and Ripple, criticizing the agency for what he perceives as regulatory overreach and misplaced priorities. He believes that the SEC’s actions have led Ripple to consider relocating its innovative technology overseas, to the detriment of the United States.
The SEC Vs. Ripple case is reaching a critical juncture as a key deadline approaches, potentially shaping the outcome of the dispute. Speculation abounds about whether the incoming SEC chair will choose to drop the case, adding a new element of uncertainty to the proceedings and heightening expectations regarding the final decision on XRP.
Ripple’s partial victory in 2023 had a positive impact on the XRP community and sparked a significant rally in the cryptocurrency’s price. A favorable outcome in the ongoing litigation could further boost demand for XRP and usher in a new phase of development for the digital asset.
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