Judge Netburn Rules in Favor of SEC in Ripple Case!

Jake Claver

Judge Netburn has ruled in favor of the SEC in the Ripple case. Find out what this ruling means for Ripple and XRP.  Watch the video to get all the details and don't forget to subscribe for more updates on this ongoing legal battle.  #XRP #XRPnews #XRPL #xrparmy #ripplexrp #ripplenews #xrpcommunity   Find more from Jake Claver by visiting the links below:  🖥Websites🖥 Digital Ascension Group - https://www.digitalfamilyoffice.io Beyond Broke Mastermind - https://mastermind.beyondbroke.com  Social media Twitter -   / beyond_broke   Linkedin -   / jacobclaver   TikTok -   / jakeclaverqfop   Facebook -   / jakeclaverqfop

Transcript

00:00Judge Netburn has ruled in the favor of the SEC. What does this mean for Ripple and XRP?

00:06So we have another break in the case here. Sarah Netburn has ruled in favor of the SEC

00:12on the most recent motion of the SEC to compel Ripple to turn over their financial statements

00:19from 2022 and 2023 for their institutional sales of XRP. Obviously, you know, XRP itself

00:27is not a security that was ruled previously by Judge Torres back on July 13th last year. Ripple

00:36does have until February 12th to turn over these documents. So what does this actually mean? Is it

00:43trouble for Ripple? Are there going to be problems? Well, it could be. It could mean that the fines that

00:50they are subject to paying are increased depending on, you know, what's turned over in these documents.

00:57The amount of institutional sales that they've been making as unregistered securities. It's the

01:02contracts themselves that make something a security. So is somebody expecting returns on the asset that

01:10they're purchasing or they're getting from Ripple's efforts? And really, that's what's going to

01:15constitute these or securities or not. Obviously, you know, retail sales of XRP, not a problem,

01:20but it's institutional ones that are. Ripple, you know, retorted and they basically stated, you know,

01:27if you wanted this information, you should have asked for it in discovery. It's not really pertinent

01:31to, you know, what's going on here. Obviously, they want to be able to continue operating as they are.

01:37And that's the possible implication here, right? So now that they've been compelled to turn this

01:42information over, uh, depending on what the judge rules, they can set forth things that basically

01:49stipulate how Ripple can transact with institutions for the XRP. Um, have they already got it in the

01:56hands of everybody that needs it? We'll see, you know, uh, why is this happening now and not earlier

02:01in the case, you know, uh, you know, tenfold hat, whatever. But, um, we'll have to see how it shakes

02:08out. I think it's, it's actually bullish. I'm excited to see that there'll actually be a framework

02:14for how digital assets and the companies that use them are supposed to transact with institutions

02:21and make those sales. Uh, do they need to register with the SEC? There'll be actual legislation

02:25at a court ruling on how these transactions are supposed to take place. And I think that's actually,

02:31this is actually a benefit for that. Again, it might impact Ripple's ability to continue operating as

02:37they have been, they may have to restructure the contracts. They may have to halt sales of the XRP

02:41institutions moving forward. Um, you know, or go back to the drawing board and figure out the right

02:47way to do it. Uh, register with the SEC if they are going to, you know, deem these as securities. So,

02:52uh, excited. Um, you know, a lot of people were upset for whatever reason, thinking that this could

03:01potentially be a problem. I think it's actually just progressing the case forward. Um, and that

03:07we will get some actual regulation around how this stuff is supposed to be done and that it's

03:12actually good for the space as a whole. So hopefully this has been insightful for you.

03:16If you haven't, please like subscribe and we'll see you on the next one.

03:37Bye.

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