Ripple Chief Legal Officer Stuart Alderoty said the U.S. Supreme Court decision on Twitter and YouTube case aligns with Ripple’s argument about Howey principles.
In a May 19 tweet, Alderoty noted that the Supreme Court said it could not simply apply the factors of an old case. Instead, it will adapt those factors to current conditions by considering the underlying statute.
Ripple’s “Investment Contract” Interpretation
According to Alderoty, this view is consistent with Ripple’s opinion that Howey and its operative statute “carries the “soil” of common law in which an “investment contract” requires a contract for an investment that creates post-sale rights for the purchaser and obligations on the seller.
This means that the legal officer expects the Court to adopt the interpretation of investment contracts under the “Howey Test” to accommodate emerging technologies like cryptocurrency.
Meanwhile, the tweet…
