Jeremy Hogan, a pro-XRP lawyer, has discussed the issue of secondary market sales and its potential impact on the Ripple vs. the US Securities and Exchange Commission (SEC) lawsuit.
The outcome of this case is crucial for XRP holders, as it will determine whether the asset is deemed inherently a security. If the issue of secondary market sales is not addressed, it could impact the relisting of XRP on exchanges like Coinbase.
The SEC lawsuit suggests that XRP is a security, like a share of stock. However, the SEC’s requests of the court in the lawsuit do not explicitly request anything that would confer this status on the asset. This leaves the issue of secondary market sales in question.
Disgorgement Order Could Force Ripple vs. SEC Case To Address Secondary Sales Issue
The SEC has charged Ripple with violating securities laws by selling XRP as an unregistered security. If Ripple is found to have…
