Bill Morgan Debunks Viral Rumors On Ripple vs SEC Case

The Ripple vs SEC legal battles continues with various rumors, speculations, and uncertainties on this matter. Previously, it was expected that the case would finally be settled in July this year, which also marks the anniversary of the previous ruling when XRP was recognized as a non-security. However, that failed to materialize and the market sentiments have rather turned negative regarding the imminent closure of the case. 

Bill Morgan Comes Forward To Debunk Speculations

Notably, Bill Morgan, a prominent XRP enthusiast and lawyer has come forward to debunk the speculations and myths around the case. He recently took to X and started the post by stating, “Time to call out more incorrect information about the SEC v Ripple case.” In the post, he responded to a post by @trump45coin. 

He highlighted that the second bullet point in the post was wrong, which stated ‘XRP is about to be the only crypto with regulatory clarity’. He stressed that the XRP token already has case decided legal clarity. According to Morgan, courts do not give regulatory clarity. He also added that whatever the judge finds on remedies, sales of XRP can still be investment contracts.

Further, he added “As to the third bullet point, there may very well be a SEC (and Ripple) appeal. It is a matter of contention and debate whether the SEC’s prospects are strong or weak.”

Donald Trump’s Promises To End The Anti-Crypto Period!

The SEC’s lawsuit against Ripple awaits a final ruling by Judge Analisa Torres. Notably, at the Bitcoin conference, Donald Trump said that the SEC Chair Gary Gensler would be fired ‘on day one’ if he is elected the President of the United States. Trump promised the attendees a new SEC Chair and an end to the anti-crypto stance of the Biden-Harris government. Trump’s win in the November elections could therefore influence the Ripple lawsuit. 

Ripple executive Brad Garlinghouse has slammed the SEC and Chair Gensler for their “regulation by enforcement” approach and a “lack of clarity on crypto regulation” in interviews, on several occasions.